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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, 04 November 21
FASTER DECARBONISATION: BACK TO BASICS FOR THE MINING INDUSTRY? - WOOD MACKENZIE
To the uninitiated, rugby is a technical and complicated game. As young schoolboys it was all a wee bit confusing and we invariably ended up on the ...
Wednesday, 03 November 21
CHINA TO LAUNCH NEW DATA MONITORING SYSTEM, TARGETING COAL MARKET SPECULATION, HOARDING - GLOBAL TIMES
China’s top economic planner announced on Sunday a new data system for supervising the implementation of medium- and long-term contracts of c ...
Wednesday, 03 November 21
CHINA’S STATE PLANNER SAYS COAL SUPPLY IMPROVING, PRICES STABILISING - REUTERS
China’s coal supply situation has seen significant improvement with joint efforts from coal producers, logistics and downstream users, while ...
Wednesday, 03 November 21
HIGHER COKING COAL PRICES TO PARE PROFITABILITY OF STEELMAKERS IN SECOND HALF OF FY22 - CRISIL RATINGS
The operating margin of primary steelmakers will reduce by a third to 24-26% in the second half of this fiscal versus the first half as input cost ...
Wednesday, 03 November 21
MARKET INSIGHT - INTERMODAL
November is here and soon the all time seasonal favorite “all I want or Christmas is you” by Mariah Carey will be played in radio stati ...
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- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- The University of Queensland
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Bhatia International Limited - India
- Parliament of New Zealand
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
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