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