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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, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
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- Coal and Oil Company - UAE
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- Romanian Commodities Exchange
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- Price Waterhouse Coopers - Russia
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- Indian Oil Corporation Limited
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- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
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- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
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- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
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- International Coal Ventures Pvt Ltd - India
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- Global Coal Blending Company Limited - Australia
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- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
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- White Energy Company Limited
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- Leighton Contractors Pty Ltd - Australia
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- Therma Luzon, Inc, Philippines
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- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
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- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
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- Ministry of Finance - Indonesia
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- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
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- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- The University of Queensland
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
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- Eastern Coal Council - USA
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- Central Java Power - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
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- Australian Coal Association
- McConnell Dowell - Australia
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- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
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- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
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