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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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Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
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- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
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