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Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
 The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of September 2016, with rapid growth in the total followed by steep decline all within the last decade. In today’s extremely weak contracting environment, remaining ‘active’ is clearly a difficult challenge for many shipbuilders.
Builders Becoming Less Active
A yard is defined as ‘active’ if it has at least one vessel (1,000+ GT) on order, with ‘inactive’ builders with no orderbook suggestive of highly vulnerable capacity. Looking back, global contracting increased dramatically (by 78%) from 2002 to peak in 2007, with the orderbook peaking in 2009. With capacity expanding to meet this demand, the number of active yards skyrocketed (see graph), rising 72% from 2005 to a peak of 931 yards in 2009. However, since the financial crisis, the shrinking orderbook has led the number of active yards to decline. As of start September 2016 there were 402 active yards, down 57% on the 2009 peak. Alongside this drop in the number of active yards, newbuild output has fallen and this year is projected to stand 34% below its 2010 peak in CGT terms.
Chinese Yards Losing The Bulk
From 2005, the number of active Chinese yards grew rapidly, increasing 117% to a peak of 382 yards in 2009. Many of the new yards specialised in the bulkcarrier sector; Chinese builders accounted for half of bulker orders during this period. Since then, the number of active Chinese yards has declined by 63%, with almost half of these closures accounted for by ‘small’ yards that had delivered two ships or fewer. There were just 140 active Chinese yards at the start of September 2016, or around 35% of all active yards globally. The number of active yards in Japan has been more steady, peaking at 71 in 2008, before falling 17% by September 2016, when 59 were reported to have an orderbook. Meanwhile, larger Korean yards have mostly remained active up to today. Korea’s historically high number of active yards in the late 2000s was largely due to the establishment of around 20 small yards, many of which have now closed. Elsewhere, post-2008, European yards struggled to compete for the more limited number of orders. By September 2016, 140 fewer European yards were active than back in 2008.
The Challenge To Be Active
Looking ahead, many active yards appear vulnerable today. Around 240 currently active shipyards are scheduled to deliver their last units on order by the end of 2017. Of course, some of these yards may yet receive orders or have deliveries delayed. However, around a quarter of active yards have only a single ship on order, while around 40% are not reported to have taken a contract since 2014. Only 59 builders have deliveries due into 2019 and beyond.
So, the number of active yards has more than halved since 2009, with a prominent feature being the exit of many Chinese builders from the scene. With ordering levels likely to remain subdued going forward, some shipyards that do not already have substantial orderbooks may also find remaining active a challenge.
About Clarkson
Clarksons is the world’s leading provider of integrated shipping services, bringing connections and experience to an international client base. (Source: Company’s website)
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Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- PTC India Limited - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
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