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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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Thursday, 08 May 14
INDONESIAN COAL PRICE REFERENCE IN MAY CRASHES THROUGH $74
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 1.21 / MT to ...
Wednesday, 07 May 14
THE DRY BULK MARKET HAS NOTED ANOTHER WEEKLY POSITIVE GAIN
Chartering (Wet: Softer- / Dry: Stable+)
The Dry Bulk market has noted another weekly positive gain, driven by the Capesize segment, but we ne ...
Wednesday, 07 May 14
SGX ENHANCES ITS COMMODITIES PRODUCT OFFERING
COALspot.com: SGX is building up its bulk commodity product offerings with 9 more derivative contracts over the next 2 months, subject to regula ...
Tuesday, 06 May 14
NEWCASTLE COAL EXPORT SLIPS 7.92% WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 5 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland ...
Monday, 05 May 14
HUANENG CLEAN ENERGY RESEARCH INSTITUTE HAS CONFIRMED TO SPEAK AT CCF2014
Press Release: Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12,13, 2014 in Beijing, China. We are glad to invite ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- The University of Queensland
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
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