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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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Wednesday, 20 October 21
CHINA COAL HITS RECORD HIGH AMID TIGHT SUPPLIES - REUTERS
China coal prices hit a record high on Tuesday buoyed by a widening power crunch and cold weather despite Beijing’s efforts to bolster supply ...
Wednesday, 20 October 21
MARKET INSIGHT - INTERMODAL
IMO 2020, Ballast Water Treatment regulations, Green Recycling, GHG emissions, EEXI, CII, ETS, Fit for 55, Carbon price/levy, the Poseidon Principl ...
Tuesday, 19 October 21
SPONGE IRON SECTOR MIGHT REPORT NEGATIVE GROWTH DUE TO COAL CRISIS: SIMA - PTI
The domestic sponge iron industry might report a negative growth in the ongoing December quarter “if the shortage of coal is allowed to conti ...
Tuesday, 19 October 21
COAL INDIA, THE FALL GUY FOR POWER CRISIS - INDIA EXPRESS
The post-Covid economic recovery has led to a major increase in the demand for power, both in India and globally. In India, coal-based power plants ...
Saturday, 16 October 21
SOLAR INSTALLATION SURGE PUTS INDIA ON TRACK TO CAP COAL-FIRED POWER AS EARLY AS 2024 - IEEFA
Recent increase in solar power installations could push coal to peak sooner than expected
If India keeps installing solar capacity a ...
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- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Latin American Coal - Colombia
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