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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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Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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Showing 3601 to 3605 news of total 6871 |
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- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- PTC India Limited - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- The University of Queensland
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
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