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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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Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
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- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
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