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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
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- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
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- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
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- Mercator Lines Limited - India
- Australian Coal Association
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- International Coal Ventures Pvt Ltd - India
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- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
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- India Bulls Power Limited - India
- Ministry of Mines - Canada
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- Lanco Infratech Ltd - India
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- Indonesian Coal Mining Association
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- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
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- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- PTC India Limited - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Planning Commission, India
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- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
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- Parliament of New Zealand
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- Minerals Council of Australia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
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