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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, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
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, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- Planning Commission, India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
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