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Thursday, 11 March 21
MARKET INSIGHT - INTERMODAL
 Assessing the ship repair sector during the first months of 2021, we have come across a new era in which Owners chose the shipyards to repair their fleet based on new parameters compared to the past. Now, COVID restrictions are already adapted and absorbed. Owners are familiar with the raising difficulties and are prepared to manage them.
Owners insist on keeping a very big variety of choices for their repairs in shipyards across the globe, which is assisting them to be protected from unforeseen COVID events. At the same time, they are making their final choice based on parameters which are different case by case.
Some Owners value travel restrictions first. They do want their office personnel to attend their drydocks. In those cases, they are avoiding areas where government approval should be granted for entering the country, and quarantine time are compulsory.
The same applies for specialized projects, where a lot of overseas Service Engineers are required, prompt mobilization when new issues arise and risk for the unforeseen should be kept minimum.
Shipping companies with big fleets have an advantage on those travel restrictions since they could maintain office personnel stationed abroad, where repairs are being carried out, saving quarantine time and travel costs for the superintendents. Other Owners, with more flexibility on who will attend their repairs and those with a relatively young fleet and reduced scope, are choosing based on the prices, vessel’s proximity to the yard, and best performance. Taking into consideration the improved freight for a specific type of vessels, minimum repair time counts, with the least risk of things getting out of control.
From the shipyard’s perspective, those yards specialized in conversions and with a big backlog of projects postponed from previous months, are currently facing a busy schedule, while they are choosing their projects to fit their available slots and manpower. Those are the shipyards less flexible on adjusting prices to the competition.
On the other hand, Chinese shipyards, representing the most popular choice for ship repairs, are facing a relatively slack program. The main reason is that the Chinese government is very strict in accepting foreigners and therefore most of the repairs must be carried out without office representatives. This restriction is keeping away all the Owners with complicated repairs where a lot of overseas service engineers should attend and only a skeleton office personnel could travel. In addition to that, the lack of massive conversion projects, such as scrubber retrofits we had a year ago, also worsen the situation, since yards are hardly exceeding their capacities. As a result, Chinese shipyards have become more competitive, trying to attract as many projects as possible, boosting the competition further. For Owners this a good chance of getting good service at a low cost.
Unfortunately, the bottom line is that with all the COVID restrictions in place, regulations, formalities, and quarantine time, there is a large amount of manpower for each ship repair wasted with superintendents, office reps, service engineers waiting standby or in quarantine or cancelled at last moment due to sudden changes. All of the above represent a big cost which instead of being invested on each ship is wasted unproductively.
By Vassilis Vassiliou,
Interyards
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Mr.George Panagopoulos
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
Thursday, 25 March 21
'OMNIBUS LAW' REGULATION ON INDONESIA’S ENERGY AND MINING SECTORS TO BOOST COAL PROCESSING BUT ALSO RAISES QUESTIONS - ABNR
February 2021 saw the issuance of a raft of new government regulations to give effect to the reformist Job Creation Law (colloquially known as the ...
Thursday, 25 March 21
PROPOSED SWITCH FROM COAL TO LNG THREATENS RENEWABLE ENERGY DEVELOPMENT IN ASIA - IEEFA
Renewables offer an ever cheaper, financially sustainable and energy secure alternative, better able to support developing nations
A ...
Thursday, 25 March 21
MAJOR INVESTMENT ADVISORS BLACKROCK AND MEKETA PROVIDE A FIDUCIARY PATH THROUGH THE ENERGY TRANSITION - IEEFA
BlackRock and Meketa say divestment from fossil fuels improves, not weakens, investment returns
Two major financial management firms ...
Thursday, 25 March 21
EUROPE PASSES MILESTONE WITH HALF OF COAL PLANTS CLOSED OR SET TO RETIRE BY 2030 - EURACTIV
Half of Europe’s 324 coal-fueled power plants have either closed or announced a retirement date before 2030, it emerged on Monday (22 March) ...
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- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
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