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Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
 Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling the repair market and not letting it to stabilize. As we have seen in similar situations, any disruption on the ship repair market has an immediate effect to shipyard’s available slots, costs, and repair time.
Taking into consideration also the elevated dry bulk freight market, the pressure of the shipping companies to perform is tremendous. Therefore, they are trying to control the ship repairs to the maximum extent possible, to avoid pit holes and last moment changes. A task which is almost impossible following the changing dynamics of COVID.
One of the greatest disruptions we experienced in the ship repair sector lately was the regulations adapted by the shipyards in Zhoushan area in China. A sudden decision caused mainly due to the outbreak of the Delta variant of COVID in India. From end May till beginning July, all the yards located to Zhoushan area adapted so strict regulations which practically have rejected without prior notice most of the vessels already fixed to enter the yards for scheduled repairs. This reaction, apart from great inconvenience and losses caused to the Owners, resulted in vessels staying idle for a couple of days waiting for decisions, vessels deviating, in order to reschedule their repairs and ultimately created a very high demand and consequently overbooking on the rest of the shipyards in China with more relaxed measures.
This is only a fraction of the last-minute regulations we encountered this year, but is a very good example to evaluate the consequences they have in the ship repair market. On the one hand, we have a severe waste of vessel’s operational time for Owner’s side and waste of resources and manpower for the yard’s side. And on the other hand, we have a competitive disadvantage for the yards in specific areas and on the same time a huge demand to the yards in areas with looser regulations. This is a phenomenon we go through very often during the COVID era and has indisputably damaged a lot of entities being on the wrong side.
Trying also to dig out a positive impact of COVID. Besides the facts and the day-to-day challenges shipowners and shipyards are facing, both are now more matured from the pandemic. We have noticed a deep cultural change on the working pattern, crisis management and decision making. Both Owners and Shipyards are prepared for random changes and sudden problems to all directions. With different principals in place, all Owners have built up their resilience to new changes and they are ready to find amicable solutions to promote their businesses no matter how tough the problem to overcome is.
Apart from COVID, it’s been almost 2 years from the first massive wave of scrubber retrofits. Now we do have a complete picture of the scrubber installation problems which now have sufficient time in operation. Corrosion on the overboard pipe for example is a very common defect we met in most of the retrofits. Those systems will add some routine inspections and works to be done on the forthcoming scheduled dockings of those vessels.
Finally, trying to speculate the impact on the ship repair sector of the latest MEPC 76 session carried out and particularly the reduction of GHG Emissions from shipping, we believe there is no effect on the ship repair sector for the time being and we will not see the need of new retrofits and modifications which will affect the repair yards on the existing fleet very soon.
By Vassilis Vassiliou,
Interyards
Compiled by:
Intermodal Research & Valuations
Analysts:
Yiannis Parganas
Tamara Apostolou
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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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
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