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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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
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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- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- White Energy Company Limited
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Minerals Council of Australia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
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