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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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Friday, 25 July 14
U.S WEEKLY COAL PRODUCTION UP AROUND 3.5% WEEK ENDED JULY 19
COALspot.com – United States the world's second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Thursday, 24 July 14
INDONESIA'S JUNE 2014 COAL EXPORT VOLUME DOWN 6.82%; AVERAGE SELLING PRICE DOWN
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.70* ...
Thursday, 24 July 14
HANDY: SOUTH AFRICA SOFTENED A BIT, HERE RATES ARE AT AROUND 8K +150K BB FOR TRIPS EAST - FEARNLEYS AS
Handy
The handy market in the Atlantic is going sideways and a tick down on low activity. Levels hoovering around USD 5k on Supras. The SMX marke ...
Thursday, 24 July 14
INDONESIAN COAL EXPORTERS ARE REQUIRED TO OBTAIN ET-BATUBARA UNDER LATEST TRADE MINISTRY'S NEW REGULATION
COALspot.com: Indonesia's trade ministry has issued regulation No. 39/M-DAG/PER/7/2014 which is requires exporters of power plant coal as ...
Wednesday, 23 July 14
PANAMAXES WERE BACK ON A DOWNWARD COURSE; CAPES WERE FEELING THE MOST PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market was on a downward spiral this week, with the BDI noting another week-on-week decline of the magnitude of 10% this ...
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- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Parliament of New Zealand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Planning Commission, India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
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