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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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Saturday, 11 September 21
CIL STEPS UP SUPPLY COAL TO POWER SECTOR; PER-DAY AVERAGE 20 PC HIGHER THAN LAST YEAR - PTI
State-owned CIL on Friday said it has stepped up the supply of coal to the power sector in the first eight days of the current month, with an avera ...
Saturday, 11 September 21
RECORD CHINESE COAL FUTURES SIGNAL NEED TO BOOST OUTPUT - REUTERS
China’s coal prices have climbed to a record high, signaling the need for more production in the short term, even as the government tries to ...
Saturday, 11 September 21
IN 2022, EIA EXPECTS U.S. COAL PRODUCTION TO INCREASE BY 47 MMST TO 648 MMST
U.S. Coal production accordng to EIA's forecast, totals 601 million short tons (MMst) in 2021, 66 MMst more than in 2020, EIA's Short-Term ...
Wednesday, 08 September 21
FITCH RATINGS RAISES THERMAL COAL PRICE ASSUMPTIONS ON TIGHT SUPPLY
Fitch Ratings has increased all its Qinhuangdao 5,500kcal/kg price assumptions and short- and medium-term Newcastle 6,000kcal/kg price assumptions ...
Wednesday, 08 September 21
COAL IS STILL KING; INDONESIAN COAL PRICE REFERENCE ABOVE $150 FOR FIRST TIME IN HISTORY
COALspot.com: The Indonesian Coal Price Reference rose dramatically from US$ 127.05 in February 2011, to a peak of US$ 150.03 in September 2021, be ...
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- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Planning Commission, India
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
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