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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.
The Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
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- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
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