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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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Friday, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Australian Coal Association
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
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