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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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Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
Wednesday, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
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 3651 to 3655 news of total 6871 |
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- Dalmia Cement Bharat India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bhatia International Limited - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Planning Commission, India
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
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