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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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Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
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- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
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