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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, 26 October 21
CHINA'S COAL-RICH SHANXI BEEFS UP COAL PRODUCTION - XINHUA
Major coal producers in north China’s Shanxi Province, a leading coal-producing region of the country, have beefed up production to ensure en ...
Tuesday, 26 October 21
ENERGY CRISIS SHOWS COAL IS AN EXPENSIVE AND UNRELIABLE SOURCE OF ELECTRICITY GENERATION - IEEFA
Any knee-jerk reaction that urges more investment in coal completely misses the point
India is teetering on the brink of joining a growing glo ...
Tuesday, 26 October 21
CHINA TO INVESTIGATE ENERGY INDEX PROVIDERS IN BID TO TAME COAL PRICES - REUTERS
China said on Monday it will investigate energy price index providers as it urged coal industry participants to “strictly” meet contrac ...
Tuesday, 26 October 21
THERE IS PLENTY OF COAL AND GAS IN THE WORLD BUT A VOLATILE MARKET IS NOBODY'S FRIEND - IEEFA
Gas will be winding its way out of the energy system
Gas prices are continuing to surge around the world. The cost of gas is at unpr ...
Tuesday, 26 October 21
AUSTRALIA EXPORTED 51.6 MLN TONNES OF COAL TO INDIA IN FIRST 10 MONTHS, 19% OF ALL AUSTRALIAN COAL EXPORTS; CHINA WAS THE DESTINATION FOR JUST 0.7% - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. In 2021 things started pretty badly, but we are seeing increasing signs of ...
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- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Planning Commission, India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
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