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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
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