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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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Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
Tuesday, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
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- Thai Mozambique Logistica
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- The University of Queensland
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
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