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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, 07 July 14
RBCT, THE WORLD'S SINGLE LARGEST EXPORT COAL TERMINAL SHIPPED 31.91 MMT OF COAL IN H1 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 31.91 million ton ...
Monday, 07 July 14
SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL SHIPPED 12% LESS COAL IN JUNE COMPARED TO MAY EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the world’s single largest export coal terminal, shipped 4.91 million tons ...
Monday, 07 July 14
INDONESIAN SUB-BIT COAL SWAPS FOR Q3 DELIVERY CRASHES THROUGH $ 54.50
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 ...
Monday, 07 July 14
API 8 CFR SOUTH CHINA COAL SWAPS SHOW A DOWNWARD TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 drops US$ 5.47 month on month on Friday, dipping under $68 a ton. The CFR South Ch ...
Sunday, 06 July 14
PANAMAX INDEX BEING THE BIGGEST GAINER THIS WEEK; UP 52.75% W-O-W
COALspot.com: This week there was some positive signs in all the sectors. The Panamax index being the biggest gainer this week after losing for sev ...
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- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Australian Coal Association
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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