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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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Wednesday, 24 March 21
MARKET INSIGHT - INTERMODAL
Since the start of the pandemic, the shipping industry has efficiently responded to ensure the continuity of operations and hence the security of s ...
Tuesday, 23 March 21
LOWER WHOLESALE PRICES PUT PRESSURE ON AUSTRALIAN ENERGY RETAILERS - FITCH RATINGS
Fitch Ratings expects the low wholesale energy prices in the Australian National Energy Market to persist through to 2022, which will affect electr ...
Tuesday, 23 March 21
SCRUBBER-FITTED SHIPS NEARLY DOUBLE AS FUEL SPREAD SETTLES AT $118 PER MT - PETER SAND
As the lion’s share of the world fleet replaced high-sulphur fuel oil (HSFO) with low-sulphur fuel oil (LFSO) as a mean of propulsion to be c ...
Tuesday, 23 March 21
CHINA'S COAL OUTPUT EDGES UP IN FIRST TWO MONTHS - XINHUA
China’s raw coal output rose 25 percent year on year to 620 million tonnes in the first two months of 2021, official data showed.
...
Wednesday, 17 March 21
MARKET INSIGHT - INTERMODAL
Shipping market players are familiar with the inverse correlation between the freight market and demolition activity i.e. when the market picks up ...
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- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
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