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