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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, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
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- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
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