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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, 06 October 21
EUROPEAN COAL FUTURES CLIMB TO 13-YEAR PEAK - REUTERS
European coal futures rose to a 13-year high and physical thermal coal prices were at record highs as rallying gas prices and strong Asian demand f ...
Tuesday, 05 October 21
CAPESIZE MARKET WAS IN A STEEP CLIMB FOR MOST OF THIS WEEK - BALTIC EXCHANGE
Capesize
The Capesize market was in a steep climb for most of this week as it reached a pinnacle of $74,786 Wednesday before stalling, regather ...
Wednesday, 29 September 21
THE WRITING IS ON THE WALL: AUSTRALIA’S COAL ERA IS OVER - YAHOO!FINANCE
As the fringe of Australian politics strives to pump up the coal industry, facts show that coal production has started its long run decline.
&n ...
Wednesday, 29 September 21
SURGING COAL PRICES SPLIT ASIAN BUYERS INTO RICH AND POOR - REUTERS
As seaborne coal in Asia trades at, or near, record highs, there are early signs of demand destruction, especially among price-sensitive buyers suc ...
Wednesday, 29 September 21
MARKET INSIGHT - INTERMODAL
Tanker Asset values have surprised to the upside, despite the downward pressure on the freight market. Tanker rates have been hovering close to the ...
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- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- The University of Queensland
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
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