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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, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
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