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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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Thursday, 11 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 ...
Tuesday, 09 November 21
ASIA-PACIFIC IS HOME TO SOME OF THE WORLD'S LARGEST CARBON-EMITTERS - 2 CHARTS SHOW ITS RELIANCE ON COAL - CNBC
Asia-Pacific is home to some of the world’s largest carbon emitters — and experts say much of global efforts to fight climate change de ...
Tuesday, 09 November 21
CHINA DAILY COAL OUTPUT HITS MULTI-YEAR PEAK, PRICES EXPECTED TO FALL - REUTERS
China’s daily coal output hit 11.93 million tonnes last week, a multi-year high as more capacity returned to operation, the state planner sai ...
Thursday, 04 November 21
CHINA'S COAL MARKET SEES SIGNIFICANT IMPROVEMENTS: NDRC - GLOBAL TIMES
China’s top economic planner has declared initial success in its efforts to ensure coal supply and stabilize prices, saying that daily coal o ...
Thursday, 04 November 21
CHINA THERMAL COAL PRICES RISE AFTER FALLING FOR 10 DAYS - REUTERS
China thermal coal futures rebounded on Wednesday after falling for 10 days on an expected jump in fuel demand to meet heating needs amid forecasts ...
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- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
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