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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, 29 May 14
PEABODY ENERGY CHAIRMAN RECEIVES WCA AWARD
The World Coal Association has presented Gregory H. Boyce, Chairman and Chief Executive Officer of Peabody Energy (NYSE: BTU), with the 2014 Chairm ...
Thursday, 29 May 14
HANDY : THE SUPRAS ARE BEING TRADED AROUND 13K FOR SHORTER UPTO 1 YEAR PERIOD
Handy
The week started off with bank holidays in London and very little happening. This trend has continued and we believe it will continue into ...
Wednesday, 28 May 14
THE DRY BULK MARKET REMAINED UNDER PRESSURE - INTERMODAL
COALspot.com: The Dry Bulk market remained under pressure during this past week, with all indices pointing down compared to the previous Friday. Th ...
Tuesday, 27 May 14
PORT OF NEWCASTLE SHIPPED 19.13% LESS COAL THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 26 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Monday, 26 May 14
SUB-BIT FOB INDO COAL SWAP Q1' 15 DELIVERIES CLOSED AT US$ 59.40 PER MT
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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- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- White Energy Company Limited
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Australian Coal Association
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
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