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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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Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
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- Sakthi Sugars Limited - India
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- Mercator Lines Limited - India
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- PTC India Limited - India
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- Renaissance Capital - South Africa
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- Independent Power Producers Association of India
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- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
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- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
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- Price Waterhouse Coopers - Russia
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- McConnell Dowell - Australia
- Bhushan Steel Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Directorate General of MIneral and Coal - Indonesia
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- Larsen & Toubro Limited - India
- Parliament of New Zealand
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- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
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- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
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- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- White Energy Company Limited
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- India Bulls Power Limited - India
- Singapore Mercantile Exchange
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- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
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