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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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Tuesday, 20 May 14
NEWCASTLE'S COAL EXPORT VOLUME UP 39.11 PERCENT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 19 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, ...
Tuesday, 20 May 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with sl ...
Tuesday, 20 May 14
DRY BULK MARKET IS BOUND FOR A RECOVERY CLAIMS PARAGON SHIPPING'S HEAD MICHAEL BODOUROGLOU
The dry bulk market is bound for a recovery in the coming weeks, as the market will be better balanced, said Mr. Michael Bodouroglou, Chairman and ...
Monday, 19 May 14
INDO COAL SWAPS FOR AVERAGE Q3' 2014 DELIVERY LOST ON WEEK AND ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 19 May 14
API 8 CFR SOUTH CHINA COAL LOST 2.49% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 2.49 percent month on month and closed at US$ 74.35 per mt as on F ...
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- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Australian Coal Association
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Bhatia International Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
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