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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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Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
Monday, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
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- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
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