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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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Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
Thursday, 28 July 16
FITCH RAISES CORPORATE OIL PRICE ASSUMPTION FOR 2016 TO USD42
Fitch Ratings has raised the 2016 oil price assumptions it uses when rating energy-sector corporates, but expects record high inventories to slow a ...
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- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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