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