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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, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
Sunday, 13 July 14
PANAMAX INDEX GAINS SLIGHTLY THIS WEEK; CAPE INDEX FALLS ALMOST 21.40%
COALspot.com: This week the freight market fell again after gaining last week. The cape index was down almost 21.40 pct and closed at 1465 points.
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Friday, 11 July 14
EUROPE HAS A SUBSTANTIAL SURPLUS IN COAL SUPPLIES; RENEWABLE ENERGIES ARE REDUCING THE FULL-LOAD OPERATING HOURS OF HARD COAL-FIRED POWER PLANTS - VDKI
COALspot.com: General conditions for coal-fired power plants must be improved if the energy turnaround is to be a success, said German coal importe ...
Friday, 11 July 14
DR.CIESLIK RE-ELECTED AS CEO OF GERMAN COAL IMPORTER ASSOCIATION (VDKI)
Press Release : Dr Cieslik re-elected as CEO of German Coal Importer Association (VDKi) for the period 2014 – 2018. The German Coal Importer ...
Friday, 11 July 14
PORT OF NEWCASTLE SHIPPED $ 1.031 BILLION WORTH OF 11.744 MILLION TONS OF COAL IN JUNE 2014
COALspot.com: Port of Newcastle has shipped 11,744,396 tons of coal for the month ended 30 June 2014. According to Port’s monthly report, YTD ...
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- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Australian Coal Association
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Economic Council, Georgia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
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