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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, 15 September 16
CAPESIZE: LAST WEEK ENDED ON A VERY STRONG NOTE MAINLY DRIVEN BY A ACTIVE BRAZIL MARKET - FEARNLYS
Supramax
With holidays in the eastern hemisphere beginning this week, the sentiment and activity level has been decreasing.
In the Pacific, ...
Wednesday, 14 September 16
THE DRY BULK MARKET REACHED LEVELS LAST SEEN BACK IN 2015 - INTERMODAL
In an earlier column we commented that we are undergoing “shipping’s new (ab)normal” with constrained financing, shift in demand ...
Wednesday, 14 September 16
THE PORT OF NEWCASTLE SHIPPED 12.48 MMT OF COAL IN AUGUST; AVERAGE SELLING PRICE WAS $AU 83.33
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU $1,040.4 ...
Tuesday, 13 September 16
CAPESIZE: BIG STRENGTH SEEN IN THE MARKET THIS WEEK - ALLIED
Capesize - Big strength seen in the market this week, with an upbeat in sentiment amongst owners helping pull up rates fairly quickly and many hold ...
Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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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- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
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