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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, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
Sunday, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
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- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
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