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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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Sunday, 18 May 14
FREIGHT RATES ARE EXPECTED TO BE FIRM NEXT WEEK
COALspot.com: The freight market was steady with the BDI was closed slightly higher at 1027 points or up 3.00 pct week on week.
The Cape ...
Friday, 16 May 14
KOMIPO IS LOOKING FOR 60K MT OF LOW VOLATILE BITUMINOUS COAL
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 60,000 Metric Tons (MT) of low volatile bitumi ...
Friday, 16 May 14
U.S. COAL PRODUCTION TOTALED APPROXIMATELY 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 15 May 14
PANAMAX : SHORT PERIOD UP TO ONE YEAR REPORTED IN THE 12.000-12.500 RANGE - FEARNRESEARCH
Handy
The Supra and handy market seems to be affected by the recent holidays in Singapore which still relatively quiet. There are some Indo / ...
Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
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- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
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