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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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Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
Tuesday, 22 July 14
ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release: Registration Open for Fourth Annual Asian Sub-Bituminous Coal Users’ Group Conference
Register today for this year&r ...
Monday, 21 July 14
25% OF INDIA'S POWER PLANTS WERE HAVING SUPER CRITICAL COAL STOCK - COAL AND POWER MINISTER
25% of India’s power plants were having super critical coal stock; power utilities have also been advised to enhance the import of coal - Coa ...
Monday, 21 July 14
INDONESIA'S STATE CONTROLLED COAL MINER BUKIT ASAM ENJOYED HIGHER SELLING PRICE DURING THIS STORMY MARKET
COALspot.com: PT Bukit Asam, the Indonesian government controlled coal miner announced today that, the company has produced 7.70 million tons of co ...
Monday, 21 July 14
CFR SOUTH CHINA COAL Q3 DELIVERY SWAPS LOST 16% SINCE JANUARY 17, 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. Market is not showing any positive trend in near future.
...
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- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
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