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