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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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Saturday, 06 March 21
AUSTRALIAN COAL: SOME WEAKNESS COULD MATERIALIZE AFTER THE WINTER - ING
Newcastle coal prices remain well supported for now, however as we move out of the winter months we would expect prices to come under pressure. Mea ...
Saturday, 06 March 21
ASIA SEABORNE COAL PRICES START TO RETREAT, CHINA-AUSTRALIA DISPUTE LINGERS - REUTERS
There are signs that the price and demand surge for coal during the recent colder-than-expected winter across North Asia is starting to ease, even ...
Thursday, 04 March 21
HEAD OF JBIC SAYS THE JAPANESE BANK WILL NOT FUND NEW COAL PLANT DEVELOPMENT - NHK NEWS
The governor of the Japan Bank for International Cooperation has said that the government-owned financial institution will stop funding new coal-fi ...
Wednesday, 03 March 21
MARKET INSIGHT - INTERMODAL
Following the recent rally to multi year highs of metal-based commodities, amid an unprecedented global economic stimulus, discussions of an emergi ...
Saturday, 27 February 21
CHINA'S BENCHMARK POWER COAL PRICE EDGES DOWN - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Australian Coal Association
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
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