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Friday, 16 September 16
GLOBAL SHIPBUILDING: THE CHALLENGE TO REMAIN 'ACTIVE' - CHRISTOPHER PEARCE, CLARKSONS
 The number of ‘active’ shipyards globally has more than halved since the start of 2009, falling to around 400 shipyards at the start of September 2016, with rapid growth in the total followed by steep decline all within the last decade. In today’s extremely weak contracting environment, remaining ‘active’ is clearly a difficult challenge for many shipbuilders.
Builders Becoming Less Active
A yard is defined as ‘active’ if it has at least one vessel (1,000+ GT) on order, with ‘inactive’ builders with no orderbook suggestive of highly vulnerable capacity. Looking back, global contracting increased dramatically (by 78%) from 2002 to peak in 2007, with the orderbook peaking in 2009. With capacity expanding to meet this demand, the number of active yards skyrocketed (see graph), rising 72% from 2005 to a peak of 931 yards in 2009. However, since the financial crisis, the shrinking orderbook has led the number of active yards to decline. As of start September 2016 there were 402 active yards, down 57% on the 2009 peak. Alongside this drop in the number of active yards, newbuild output has fallen and this year is projected to stand 34% below its 2010 peak in CGT terms.
Chinese Yards Losing The Bulk
From 2005, the number of active Chinese yards grew rapidly, increasing 117% to a peak of 382 yards in 2009. Many of the new yards specialised in the bulkcarrier sector; Chinese builders accounted for half of bulker orders during this period. Since then, the number of active Chinese yards has declined by 63%, with almost half of these closures accounted for by ‘small’ yards that had delivered two ships or fewer. There were just 140 active Chinese yards at the start of September 2016, or around 35% of all active yards globally. The number of active yards in Japan has been more steady, peaking at 71 in 2008, before falling 17% by September 2016, when 59 were reported to have an orderbook. Meanwhile, larger Korean yards have mostly remained active up to today. Korea’s historically high number of active yards in the late 2000s was largely due to the establishment of around 20 small yards, many of which have now closed. Elsewhere, post-2008, European yards struggled to compete for the more limited number of orders. By September 2016, 140 fewer European yards were active than back in 2008.
The Challenge To Be Active
Looking ahead, many active yards appear vulnerable today. Around 240 currently active shipyards are scheduled to deliver their last units on order by the end of 2017. Of course, some of these yards may yet receive orders or have deliveries delayed. However, around a quarter of active yards have only a single ship on order, while around 40% are not reported to have taken a contract since 2014. Only 59 builders have deliveries due into 2019 and beyond.
So, the number of active yards has more than halved since 2009, with a prominent feature being the exit of many Chinese builders from the scene. With ordering levels likely to remain subdued going forward, some shipyards that do not already have substantial orderbooks may also find remaining active a challenge.
About Clarkson
Clarksons is the world’s leading provider of integrated shipping services, bringing connections and experience to an international client base. (Source: Company’s website)
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Sunday, 07 April 19
IMO 2020: READY OR NOT? - WOOD MACKENZIE
New Year’s Day 2020 is firmly marked in the calendar as the refining and shipping industries prepare for change.
The International Marit ...
Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
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- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- The University of Queensland
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
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