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Ship Repairs Proving Costlier and More Difficult Scheduling-Wise

Performing scheduled maintenance or ship repairs is proving to be yet another challenge these days, in the aftermath of the war in Ukraine.

 In its latest weekly report, shipbroker Intermodal said that “while observing the ship repair market since the beginning of the year, uncertainty remains part of the daily challenges owners must encounter for repairing their fleet. Nowadays not only the ongoing unprecedented effect of the pandemic is heavily affecting the ship repair market but also the shock of the long-lasting war between Russia and Ukraine”.

According to the shipbroker’s specialized department, Interyads, “starting with the effect of the war, we noticed a massive change in the itinerary of tankers and LNGCs vessels, putting a lot more pressure on the repair facilities in Europe, Mediterranean and Black Sea areas.

Most of the shipyards in those areas are fully occupied till the 3rd quarter of the year.

Focusing on the yards with relatively small facilities, a lot of delays also occurred due to the over-booking, shortage of manpower, and supply chain headaches”.

Interyads’ VassilisVassiliou noted that “moving forward, all costs related to ship repairs are increased which consequently drives most of the shipyards worldwide to increase their tariffs. More specifically the price of steel has inflated the most, resulting in certain already agreed repair/conversion contracts with lower prices becoming invalid.”  

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