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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, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
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