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Major Gridlock Expected in Ship Repair Yards

Ship owners are expected to face huge delays and congestion in their attempts to book future retrofitting or ship repair projects in the various yards around the world.

Major Gridlock Expected in Ship Repair Yards
06 July 2020 - 17:33

Ship owners are expected to face huge delays and congestion in their attempts to book future retrofitting or ship repair projects in the various yards around the world.

In its latest weekly report, shipbroker Intermodal said that “it was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repair sector. At that time, in February 2020, COVID existed only in China, where almost all ship repair activities were frozen, just a few days after the first announcement from the Chinese government that the CNY will be postponed till 10th of February. From that day till today, the sector has been challenged in many ways, with different locations being affected every time and in various extents”.

According to Intermodal’s Mr. Vassilis Vassiliou, Ship-repair Broker, “the virus spread flow, when was causing a lock-down in one region, the same time was overfilling with massive bookings for ship repairs these regions which were still able to offer such services.

Initially, when China was isolated, both Singapore and Arabian Gulf faced a massive demand for drydock slots, which was much greater than what they were able to accommodate. A few weeks later, European and Turkish shipyards seized operations and China has slowly resumed its activities. Nowadays, while China has almost fully recovered from the shortage of the manpower, Singapore and Arabian Gulf are underperforming”.

Source: HellenicShippingNews (Click for further of the article)

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