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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, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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 ...
Monday, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Indika Energy - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Parliament of New Zealand
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
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