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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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Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year ...
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- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- The University of Queensland
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
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