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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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- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Mjunction Services Limited - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
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