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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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Sunday, 21 February 21
ANZ DIVESTING FROM THE WORLD’S LARGEST COAL EXPORT PORT IS 'PRAGMATISM' - IEEFA
The biggest buyers of Australian thermal coal have committed to net-zero emissions
ANZ, Australia’s third largest bank, has decided to s ...
Sunday, 21 February 21
EDITORIAL: TIME FOR BANGLADESH TO FOCUS ON RENEWABLE ENERGY, NOT COAL - DHAKA TRIBUNE
Shifting away from coal is not only desirable, but absolutely necessary in these times.
In spite of being detrimental to environment ...
Wednesday, 17 February 21
STRANDED ASSETS A LONG-TERM RISK FOR MAJOR FOSSIL FUEL EXPORTERS - FITCH RATINGS
Fossil exporters face a loss of GDP, government revenue and export receipts from the transition to a lower-carbon economy over the coming decades. ...
Friday, 12 February 21
U.S: WIND SURPASSED COAL AS NO. 1 FUEL SOURCE IN 2020 FOR SOUTHWEST POWER POOL - IEEFA
Wind energy growth due to geography, design factors, and new installations
Wind surpassed coal as the primary power generation sourc ...
Wednesday, 10 February 21
FY21 COAL DEMAND MAY BE LOWER THAN PREVIOUSLY ESTIMATED DUE TO COVID-19: PRALHAD JOSHI - PTI
Coal demand in the current fiscal may be lower than the initial estimate of 1,085 million tonnes (MT) due to the impact of COVID-19, Parliament was ...
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- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Central Electricity Authority - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Ministry of Mines - Canada
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
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