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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, 26 May 14
Q3 14 CFR SOUTH CHINA COAL SWAPS LOST 2.24% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.24 percent month on month and closed at US$ 73.88 per mt as on F ...
Monday, 26 May 14
NEWBUILDING ORDERING ACTIVITY RISES BY 78% IN DWT TONNAGE OVER THE FIRST 4 MONTHS OF THE YEARS, AS OWNERS INVEST$40.5 BN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have plunged into newbuilding orders during the first four months of the year, as overall newbuilding business ended for the first four ...
Sunday, 25 May 14
FREIGHT RATES FROM SOUTH KALIMANTAN TO EAST COAST INDIAN PORTS WERE ASSESSED AT $9.50/MT
COALspot.com: The BDI was closed at 964 points down by 6.13 pct week on week. The Cape Index was lost 172 points or 11.24% week on week and closing ...
Saturday, 24 May 14
DRY BULK MARKET'S RECOVERY IS JUST AROUND THE CORNER SAYS SHIPOWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the weaker than expected market sentiment in the dry bulk market over the course of the past few months, analysts and shipowners alike appe ...
Friday, 23 May 14
U.S. WEEKLY COAL PRODUCTION SLIPS 1.8% WEEK ENDED MAY 17, 2014
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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- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
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