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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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Friday, 12 March 21
INDIA SHOULD FOCUS ON REDUCING COAL POWER GENERATION INSTEAD OF CAPACITY - IEEFA
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, Indi ...
Friday, 12 March 21
BATTERIES ARE REPLACING COAL NOT GAS - IEEFA
No amount of government subsidies can halt gas’s decline
Batteries are replacing coal not gas.
Today the early ...
Friday, 12 March 21
RENEWABLES SHOULD BE FOCUS OF VIETNAM’S DRAFT PDP8, NOT COAL AND GAS - IEEFA
Evidence was clear to inform the next stage of Vietnam’s power development
Vietnam’s recently published draft power deve ...
Thursday, 11 March 21
U.S. TO PRODUCE 581 MMST IN 2021, UP 8% FROM 2020 - EIA
EIA expects U.S. coal production to total 581 MMst in 2021, 42 MMst (8%) more than in 2020. In 2022, EIA expects coal production to rise by a furth ...
Monday, 08 March 21
MARCH 2021 INDONESIA COAL PRICE REFERENCE SETTLES LOWER
COALspot.com: The Indonesia coal price reference for March 2021 settles at US$ 84.49 per ton FOB vessel.
The Indonesia coal pr ...
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- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
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