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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, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
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, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
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- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
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