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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial crisis, coupled with the diminishing demand over the past few years prior to 2013-2014 period, means that many shipyards are facing “exstinction” if no course of action is undertaken. This means consolidation to improve economies of scale and increase competitiveness.
In its latest weekly report, shipbroker Intermodal noted that the recent takeover of Sasebo Heavy Industries by Namura Zosen, is a sign of things to come. According to Intermodal’s SnP broker, Mr. Tasos Papadopoulos, “this is the second consolidation move of its type in Japan; following the formation of Japan Marine United (JMU) through the merger of IHI Marine United and Universal Shipbuilding, which was set to turn two medium-sized Japanese shipbuilders into one of Japan’s major shipbuilding groups.
At the same time it is worth remembering one of last year’ failed attempts, when talks between Kawasaki Heavy Industries Ltd. And Mitsui Engineering & Shipbuilding Co. reached a stalemate. Despite setbacks like this, the Japanese government seems to be continuing to push its efforts to reduce the number of Japanese shipbuilders and in effect boosting the competitiveness of its industry against that of lower-cost rivals such as China and South Korea”, Papadopoulos noted.
He added that “China CSSC Holdings Limited is also planning to restructure its facilities and reduce the number of its affiliated shipyards; it is rumoured that mergers of four major shipyards are under firm discussions, Hudong-Zhounghua Shipbuilding with Shanghai Shipyard and Shanghai Waigaoqiao Shipbuilding (SWS) together with Jiangnan Shipyard. Market players consider that the merger would boost up CSSC, by curbing keen competition between companies under its wings for new business and orders, optimizing manpower and improving production efficiency”.
According to Intermodal’s broker, “based on the current orderbook, the hardest hit sector has been China’s privately owned small to medium sized shipyards whose market share have considerably declined and it seems realistic that some may soon exit. These “lower standard, lower tech’” shipyards are struggling to survive, with small shipyards like Bluesky and Jingang, amongst others, having already filed for bankruptcy, whilst shipbuilding operations have been suspended at many other private shipyards in China which are struggling with cash flow difficulties; worth reminding that Rongsheng Heavy Industries Group, a mega-sized private yard, has been close to collapse due to similar cash flow issues and has asked the government for a bail out since July of last year”.
Papadopoulos also noted that “considering the large number of shipbuilders in China, industry experts have predicted that for the industry to stabilize, 30 to 50 percent will probably have to shut down operations over the next five years. This is supported by Yangzijiang’s executive chairman Ren Yuanlin’s statement that “a third of the nation’s yards face the danger of closure in about five years after failing to win orders.” However, Xu Minle, an analyst at Bank of China International Ltd pointed out that “compared with shutting down of companies, mergers and acquisitions are less likely to cause social unrest.” It is obvious that shutting down shipyards is a hard choice for any government to make, while mergers and acquisitions are a “soft” alternative.
Yet as much as it would benefit the industry to have a decline in shipbuilding capacity through M&A, it is not always an easy task to bring the two parties together. Maybe as a shift from the past, this time around, governments will choose to use incentives to trim the excess fat from their shipbuilding industry, rather than trying to support them all through artificial government-backed ordering and subsidies. The shipping industry could do with less “Sanko Steamship orders” (pertaining to the order of 123 dry bulkers in 1982 rumoured to have been supported then by the Japanese government) and more “Japan Marine United” mergers”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
Monday, 28 July 14
S. KOREA'S KOSPO SEEKS 148K T OF 4700 NAR COAL
COALspot.com: Korea Southern Power Co Ltd (KOSPO) is seeking 148,000 tonnes of 4,700 kcal/kg NCV steaming coal for shipment between October to Nove ...
Monday, 28 July 14
CFR SOUTH CHINA COAL SWAP SLIGHTLY UP WEEK ON WEEK
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. The swap for Q3, Q4 and Q1 2015 showing slight improvement ...
Sunday, 27 July 14
RAMADAN HOLIDAYS IN INDONESIA PUTTING PRESSURE ON CHARTER RATES FROM INDONESIA - VISTAAR INDIA
COALspot.com: The freight rates were almost steady as very slight improvement in BDI by about 1 pct. The BDI was at 739 points after improvin ...
Saturday, 26 July 14
COAL MINING COMPANIES CLOSED TEMPORARILY - THE JAKARTA POST
The Sarolangun regency administration in Jambi has suspended the operations of 10 coal mining companies in line with a circular issued by Regent Ce ...
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- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- The University of Queensland
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- MS Steel International - UAE
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
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