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