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