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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial crisis, coupled with the diminishing demand over the past few years prior to 2013-2014 period, means that many shipyards are facing “exstinction” if no course of action is undertaken. This means consolidation to improve economies of scale and increase competitiveness.
In its latest weekly report, shipbroker Intermodal noted that the recent takeover of Sasebo Heavy Industries by Namura Zosen, is a sign of things to come. According to Intermodal’s SnP broker, Mr. Tasos Papadopoulos, “this is the second consolidation move of its type in Japan; following the formation of Japan Marine United (JMU) through the merger of IHI Marine United and Universal Shipbuilding, which was set to turn two medium-sized Japanese shipbuilders into one of Japan’s major shipbuilding groups.
At the same time it is worth remembering one of last year’ failed attempts, when talks between Kawasaki Heavy Industries Ltd. And Mitsui Engineering & Shipbuilding Co. reached a stalemate. Despite setbacks like this, the Japanese government seems to be continuing to push its efforts to reduce the number of Japanese shipbuilders and in effect boosting the competitiveness of its industry against that of lower-cost rivals such as China and South Korea”, Papadopoulos noted.
He added that “China CSSC Holdings Limited is also planning to restructure its facilities and reduce the number of its affiliated shipyards; it is rumoured that mergers of four major shipyards are under firm discussions, Hudong-Zhounghua Shipbuilding with Shanghai Shipyard and Shanghai Waigaoqiao Shipbuilding (SWS) together with Jiangnan Shipyard. Market players consider that the merger would boost up CSSC, by curbing keen competition between companies under its wings for new business and orders, optimizing manpower and improving production efficiency”.
According to Intermodal’s broker, “based on the current orderbook, the hardest hit sector has been China’s privately owned small to medium sized shipyards whose market share have considerably declined and it seems realistic that some may soon exit. These “lower standard, lower tech’” shipyards are struggling to survive, with small shipyards like Bluesky and Jingang, amongst others, having already filed for bankruptcy, whilst shipbuilding operations have been suspended at many other private shipyards in China which are struggling with cash flow difficulties; worth reminding that Rongsheng Heavy Industries Group, a mega-sized private yard, has been close to collapse due to similar cash flow issues and has asked the government for a bail out since July of last year”.
Papadopoulos also noted that “considering the large number of shipbuilders in China, industry experts have predicted that for the industry to stabilize, 30 to 50 percent will probably have to shut down operations over the next five years. This is supported by Yangzijiang’s executive chairman Ren Yuanlin’s statement that “a third of the nation’s yards face the danger of closure in about five years after failing to win orders.” However, Xu Minle, an analyst at Bank of China International Ltd pointed out that “compared with shutting down of companies, mergers and acquisitions are less likely to cause social unrest.” It is obvious that shutting down shipyards is a hard choice for any government to make, while mergers and acquisitions are a “soft” alternative.
Yet as much as it would benefit the industry to have a decline in shipbuilding capacity through M&A, it is not always an easy task to bring the two parties together. Maybe as a shift from the past, this time around, governments will choose to use incentives to trim the excess fat from their shipbuilding industry, rather than trying to support them all through artificial government-backed ordering and subsidies. The shipping industry could do with less “Sanko Steamship orders” (pertaining to the order of 123 dry bulkers in 1982 rumoured to have been supported then by the Japanese government) and more “Japan Marine United” mergers”, he concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 02 June 14
SUB-BIT FOB INDONESIA COAL SWAPS LOST GROUND THIS WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 02 June 14
SOUTH CHINA COAL SWAP WAS SHOWING A POSITIVE MOVE IN Q4, INSTEAD OF THIS WEEK'S WEAK TREND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 3.39 percent month on month and closed at US$ 72.65 per mt as on F ...
Sunday, 01 June 14
INDO - INDIA SUPRMAX FREIGHT RATES CONTINUED TO DOWN THIS WEEK
COALspot.com: The freight market was soft this past week as all sectors soften particularly Panamax index was lost 129 points or 12.88% week on wee ...
Friday, 30 May 14
CLEAN COAL PROCESSING & CONVERSION ASIA SUMMIT 2014
Clean Coal Processing & Conversion Asia Summit 2014 will be held on Nov 20-21st, 2014 in Jakarta, Indonesia.
With the cooperation of ...
Friday, 30 May 14
US COAL PRODUCTION RELATIVELY FLAT WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
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- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
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