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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
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