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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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Wednesday, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
Saturday, 17 July 21
COAL PRICES TRADE AT DECADE HIGH OF $140 PER TONNE, HERE ARE SOME FACTORS AT PLAY: CNBC-TV18
Coal prices are trading at $140 per tonne. In the last one week, coal has seen more than 8 percent gains; the last one month has seen 24 percent ju ...
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- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- MS Steel International - UAE
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