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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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Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
Friday, 09 July 21
CAN WE EXPECT AFFORDABLE POWER SUPPLY BY REPLACING COAL BASED POWER WITH LNG? - FINANCIAL EXPRESS
Bangladesh government’s recent decision to cancel the contracts for 10 coal fired power plants in late June 2021 has invited interest in the ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
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