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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, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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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- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- The University of Queensland
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- MS Steel International - UAE
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
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