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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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Thursday, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- Australian Coal Association
- Indogreen Group - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
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