Builders still face crisis
April 26, 2010
Hyundai Mipo wins 4 bitumen ships
April 23, 2010
Chengxi receives eight-bulker orders
April 23, 2010
Fujian yards keep uptrend in Q1
April 23, 2010
China's anxiety on ship export future
April 23, 2010
Fincantieri signs research ship order
April 23, 2010
ABG pens four cement carriers
April 23, 2010
Hyundai Mipo inks kamsarmax duo
April 23, 2010
Samsung inks nine aframaxes
April 22, 2010
Kawasaki profit warning
April 22, 2010
Lindenau grabs tanker order
April 22, 2010
Namura unveils 12 handy orders
April 22, 2010
Jiangsu newbuild output jump 90%
April 21, 2010
Japan new ship orders up
April 21, 2010
Majors to gain from fuel-efficient ships
Builders still face crisis
It seems that small and medium-sized shipbuilders continue to go through crisis while newbuilding market signals gradual recovery.
The Export-Import Bank of Korea (Korea Eximbank) said in a small and medium-sized shipbuilding industry report recently that Korean small and medium-sized shipbuilders' orders intake in the first quarter recorded the highest since the financial crisis totalling 867,000CGT worth USD 1.71bn, which is only about 83% level of Q1 of 2008's, and concluded that the industry had not entered recovering stage yet.
Yang Jong-seo senior researcher of Korea Eximbank said, "Small and medium-sized shipbuilders took more newbuilding orders than expected given the current market condition, however, most of the orders were taken by medium and large-sized shipbuilding companies such as Sungdong Shipbuilding & Marine Engineering (SSME) and SPP Shipbuilding, and only four small and medium-sized shipbuilders received newbuilding orders."
"41 out of 45 total newbuilding orders taken by small and medium-sized shipbuilders in Q1 were bulkers whose market share is preponderantly occupied by China. Even taking recent appreciation of Chinese currency into calculation, it is highly likely that outdistancing China in terms of bulker newbuildings market share was a result of low-priced contracts," explained researcher Yang.
According to Korea Eximbank's independent research, total newbuilding orders intakes including shipbuilding giants' in Q1, 2010 was 2.05m CGT, which increased by about 3,300% year-on-year.
However, orders intakes of China decreased by 21.7% to 796,000CGT and Japan by 74% to 104,000CGT, according to Clarkson Research Services' data.
The huge hike of Korean shipbuilders' orders intake is mainly resulted from greatly increased newbuilding orders of strategic ship and hull types of fast deliveries by shipbuilding giants to fill in vacancies at docks caused by existing newbuilding contracts cancellations and postponement of deliveries.
On the other hand, small and medium-sized shipbuilders' orders intake looks like a result of subsistent orders intake by hugely lowering newbuilding prices to secure liquidity capitals and workloads.
An industry official said, "Korean shipbuilders' lowering newbuilding prices attracted more newbuilding orders from overseas shipping companies who prefer Korea yards. Considering statistics of total newbuilding orders intake as a whole, newbuilding market has not got out of slump yet."
It was also suggested that key to recovery of small and medium-sized shipbuilders under crisis is at financial institutions since Korean government, who does not want to be at dispute table issuing subsidy, failed to present specific shipbuilding industry support measures.
"Financial institutions need to use win-win policy in terms of securing long-term customers through continuous shipbuilding industry's growth rather than eyeing short-term profits. They have to make efforts for normal RG issuance and supporting liquidity crisis considering the scale of small and medium-sized shipbuilding industry and employment effect," urged researcher Yang.
Published : April 26, 2010
The Export-Import Bank of Korea (Korea Eximbank) said in a small and medium-sized shipbuilding industry report recently that Korean small and medium-sized shipbuilders' orders intake in the first quarter recorded the highest since the financial crisis totalling 867,000CGT worth USD 1.71bn, which is only about 83% level of Q1 of 2008's, and concluded that the industry had not entered recovering stage yet.
Yang Jong-seo senior researcher of Korea Eximbank said, "Small and medium-sized shipbuilders took more newbuilding orders than expected given the current market condition, however, most of the orders were taken by medium and large-sized shipbuilding companies such as Sungdong Shipbuilding & Marine Engineering (SSME) and SPP Shipbuilding, and only four small and medium-sized shipbuilders received newbuilding orders."
"41 out of 45 total newbuilding orders taken by small and medium-sized shipbuilders in Q1 were bulkers whose market share is preponderantly occupied by China. Even taking recent appreciation of Chinese currency into calculation, it is highly likely that outdistancing China in terms of bulker newbuildings market share was a result of low-priced contracts," explained researcher Yang.
According to Korea Eximbank's independent research, total newbuilding orders intakes including shipbuilding giants' in Q1, 2010 was 2.05m CGT, which increased by about 3,300% year-on-year.
However, orders intakes of China decreased by 21.7% to 796,000CGT and Japan by 74% to 104,000CGT, according to Clarkson Research Services' data.
The huge hike of Korean shipbuilders' orders intake is mainly resulted from greatly increased newbuilding orders of strategic ship and hull types of fast deliveries by shipbuilding giants to fill in vacancies at docks caused by existing newbuilding contracts cancellations and postponement of deliveries.
On the other hand, small and medium-sized shipbuilders' orders intake looks like a result of subsistent orders intake by hugely lowering newbuilding prices to secure liquidity capitals and workloads.
An industry official said, "Korean shipbuilders' lowering newbuilding prices attracted more newbuilding orders from overseas shipping companies who prefer Korea yards. Considering statistics of total newbuilding orders intake as a whole, newbuilding market has not got out of slump yet."
It was also suggested that key to recovery of small and medium-sized shipbuilders under crisis is at financial institutions since Korean government, who does not want to be at dispute table issuing subsidy, failed to present specific shipbuilding industry support measures.
"Financial institutions need to use win-win policy in terms of securing long-term customers through continuous shipbuilding industry's growth rather than eyeing short-term profits. They have to make efforts for normal RG issuance and supporting liquidity crisis considering the scale of small and medium-sized shipbuilding industry and employment effect," urged researcher Yang.
Published : April 26, 2010
Green calls 'New Orders'
Co hoi cho Dung Quat Shipyard day. Khong biet co nam duoc co hoi khong?
As shipbuilding and shipping industries comes under greenhouse gases (GHG) regulation, industry related companies are expected to get into unlimited fuel efficiency competition and to be ranked depending on their technological competitiveness signaling new restructuring in shipbuilding industry.
Survival of a shipbuilder in the future will depend on whether the company has acquired competitiveness through technology development, as the gap between the rich and the poor gets bigger in the shipbuilding industry.
Lee Seok-je, analyst at Seoul-based MiraeAsset Securities said, "EEDI (Energy Efficiency Design Index) is a fuel efficiency indicating system, which will be applied to all newbuildings contracted from 2013, to show each yard's technological abilities as the key index. Eventually, difference in fuel efficiency will determine newbuilding price and market share."
Standards of EEDI will be continuously upward adjusted, and shipping companies must report EEOI (Energy Efficiency Operational Indicator), a fuel efficiency index. Accordingly, emission trading or carbon taxes market will be created among shipping companies, meaning the beginning of unlimited fuel efficiency competition among shipping firms and shipbuilders.
"Hence, shipbuilders without designs, technologies, and building quality to improve fuel efficiency will never be allowed to enter the market. Liquidation of existing shipbuilders will be visualized depending on the level of their green technologies," explained analyst Lee.
He added that the key to survival of shipbuilders in the future is technology, not cost competition. Korean shipbuilders' outstanding technological capabilities will be verified again with their superior fuel efficiency, which will emerge as an expansion of market share in the end. Flow of new regulation will open a new prospect in valuation of Korean shipbuilders' stock prices.
EEDI was introduced to stimulate technology competition among shipbuilders and to improve fuel efficiency. Infinite competition in fuel efficiency among shipping companies is expected to begin.
Regulation currently under discussion is a relative evaluation system; a competitor with lower fuel efficiency has to pay additional fuel cost and alloted expense, and the other side of competitor benefits from it by taking the levy.
This regulation will be applied to existing ships as well as newbuildings, meaning that shipping companies should make newbuilding orders in consideration of fuel efficiency from now on regardless of the forecasted effective date in 2014.
As shipbuilding and shipping industries comes under greenhouse gases (GHG) regulation, industry related companies are expected to get into unlimited fuel efficiency competition and to be ranked depending on their technological competitiveness signaling new restructuring in shipbuilding industry.
Survival of a shipbuilder in the future will depend on whether the company has acquired competitiveness through technology development, as the gap between the rich and the poor gets bigger in the shipbuilding industry.
Lee Seok-je, analyst at Seoul-based MiraeAsset Securities said, "EEDI (Energy Efficiency Design Index) is a fuel efficiency indicating system, which will be applied to all newbuildings contracted from 2013, to show each yard's technological abilities as the key index. Eventually, difference in fuel efficiency will determine newbuilding price and market share."
Standards of EEDI will be continuously upward adjusted, and shipping companies must report EEOI (Energy Efficiency Operational Indicator), a fuel efficiency index. Accordingly, emission trading or carbon taxes market will be created among shipping companies, meaning the beginning of unlimited fuel efficiency competition among shipping firms and shipbuilders.
"Hence, shipbuilders without designs, technologies, and building quality to improve fuel efficiency will never be allowed to enter the market. Liquidation of existing shipbuilders will be visualized depending on the level of their green technologies," explained analyst Lee.
He added that the key to survival of shipbuilders in the future is technology, not cost competition. Korean shipbuilders' outstanding technological capabilities will be verified again with their superior fuel efficiency, which will emerge as an expansion of market share in the end. Flow of new regulation will open a new prospect in valuation of Korean shipbuilders' stock prices.
EEDI was introduced to stimulate technology competition among shipbuilders and to improve fuel efficiency. Infinite competition in fuel efficiency among shipping companies is expected to begin.
Regulation currently under discussion is a relative evaluation system; a competitor with lower fuel efficiency has to pay additional fuel cost and alloted expense, and the other side of competitor benefits from it by taking the levy.
This regulation will be applied to existing ships as well as newbuildings, meaning that shipping companies should make newbuilding orders in consideration of fuel efficiency from now on regardless of the forecasted effective date in 2014.
tập đoàn tien sư (tiens) của tàu liên hoan tại Mỹ Đình
Cái gì đây, bọn MC chào đón ông bạn Tàu này mà nói là: luôn ấp ủ trong mình nỗi niềm báo đáp cho tổ quốc, xây dựng ước mơ,khao khát chấn hưng doanh nghiệp nước nhà..." nước Việt ta thành trung quốc từ hồi nào vật ta????
http://www.youtube.com/watch?v=OhckqgRrxes&feature=related
http://www.youtube.com/watch?v=OhckqgRrxes&feature=related
Overcapacity 'Disaster'
The phenomenal growth of yards in Asia is firing concerns of a possible 'disaster'.
Shipyard overcapacity is rapidly becoming one of the greatest fears plaguing the shipping industry.
The production volume of the world's major shipbuilding countries has undergone phenomenal growth over the past decade in order to keep up with the seemingly insatiable demand for tonnage from owners.
Statistics compiled by London-based Maritime Strategies International (MSI) paint an astonishing picture.
At the turn of the millenium, Japan was the world's top shipbuilder with capacity to build 10.9 million gt per year. This has since grown by 177% to 19.3 million gt per year. South Korea's capacity stood at 10.3 million gt per year a decade ago but it has since overtaken Japan, climbing by 364% to 37.5 million gt per year.
But the biggest growth has taken place in China, which 10 years ago was capable of building a mere 1.9 million gt per year. Today, its shipbuilding capacity is in the region of 22.3 million gt per year, an astonishing 1,173% rise.
This huge increase has many in the industry extremely worried.
Owners who gathered at the Marine Money conference in Dubai earlier this month all concurred that the capacity situation will have a far more damaging effect on the industry than the current orderbook if yards create an ordering spree by offering bargain newbuildings.
"These are very scary numbers. This new unprecedented high capacity in shipbuilding will cripple the industry, especially if yards are not subject to market [pressures] with things such as government subsidies," said Per Wistoft Kristiansen, chief executive of Dubai-based Gulf Navigation.
China is causing the most worry. Growth in Japan and Korea has come mainly from existing yards that have scaled up production. But many of these have now begun to scale back.
The situation in China is very different. Yards have seemingly sprung up everywhere along its coast over the past decade and their stakeholders are loath to lose any business, as it would have a negative effect on employment as well as make it difficult for them to recoup their substantial investments in the necessary infrastructure.
The Chinese government has been keen to protect its investment in shipbuilding and has therefore been promoting it through various incentives such as making available cheap and easy financing and subsidising orders from domestic owners. But it is not just Chinese yards that are prepared to offer substantial discounts on newbuildings.
Scott Jones, head of Abu Dhabi-based Eships, says plenty of yards the world over are willing to make huge price cuts.
"Yards are telling me that their governments are prepared to subsidise shipbuilding to an enormous level to protect jobs and I expect this will result in a flood of excess ships," he explained.
The flood may have already begun. Last year, orders were at a standstill but a spate of new contracts in recent months - something that is not welcomed by the more conservative owners.
"The orderbook status quo is OK at the moment but going forward, if too many people order too many cheap ships it will affect the market," said Wistoft.
"It will be a disaster," added Jones.
It is quite easy to understand why some owners may be tempted to take advantage of the incentives that yards are offering. A cheap newbuilding makes far more economic sense than acquiring a resale, as it comes with a substantial cost reduction. This also makes financing far easier.
Whether or not yards will be successful in their quest to attract a flood of new orders to keep their facilities and workers busy remains to be seen. But the owners present in Dubai said they hope the industry will be sensible and exercise restraint. Otherwise they fear it will only be damaging its long-term prospects.
Shipyard overcapacity is rapidly becoming one of the greatest fears plaguing the shipping industry.
The production volume of the world's major shipbuilding countries has undergone phenomenal growth over the past decade in order to keep up with the seemingly insatiable demand for tonnage from owners.
Statistics compiled by London-based Maritime Strategies International (MSI) paint an astonishing picture.
At the turn of the millenium, Japan was the world's top shipbuilder with capacity to build 10.9 million gt per year. This has since grown by 177% to 19.3 million gt per year. South Korea's capacity stood at 10.3 million gt per year a decade ago but it has since overtaken Japan, climbing by 364% to 37.5 million gt per year.
But the biggest growth has taken place in China, which 10 years ago was capable of building a mere 1.9 million gt per year. Today, its shipbuilding capacity is in the region of 22.3 million gt per year, an astonishing 1,173% rise.
This huge increase has many in the industry extremely worried.
Owners who gathered at the Marine Money conference in Dubai earlier this month all concurred that the capacity situation will have a far more damaging effect on the industry than the current orderbook if yards create an ordering spree by offering bargain newbuildings.
"These are very scary numbers. This new unprecedented high capacity in shipbuilding will cripple the industry, especially if yards are not subject to market [pressures] with things such as government subsidies," said Per Wistoft Kristiansen, chief executive of Dubai-based Gulf Navigation.
China is causing the most worry. Growth in Japan and Korea has come mainly from existing yards that have scaled up production. But many of these have now begun to scale back.
The situation in China is very different. Yards have seemingly sprung up everywhere along its coast over the past decade and their stakeholders are loath to lose any business, as it would have a negative effect on employment as well as make it difficult for them to recoup their substantial investments in the necessary infrastructure.
The Chinese government has been keen to protect its investment in shipbuilding and has therefore been promoting it through various incentives such as making available cheap and easy financing and subsidising orders from domestic owners. But it is not just Chinese yards that are prepared to offer substantial discounts on newbuildings.
Scott Jones, head of Abu Dhabi-based Eships, says plenty of yards the world over are willing to make huge price cuts.
"Yards are telling me that their governments are prepared to subsidise shipbuilding to an enormous level to protect jobs and I expect this will result in a flood of excess ships," he explained.
The flood may have already begun. Last year, orders were at a standstill but a spate of new contracts in recent months - something that is not welcomed by the more conservative owners.
"The orderbook status quo is OK at the moment but going forward, if too many people order too many cheap ships it will affect the market," said Wistoft.
"It will be a disaster," added Jones.
It is quite easy to understand why some owners may be tempted to take advantage of the incentives that yards are offering. A cheap newbuilding makes far more economic sense than acquiring a resale, as it comes with a substantial cost reduction. This also makes financing far easier.
Whether or not yards will be successful in their quest to attract a flood of new orders to keep their facilities and workers busy remains to be seen. But the owners present in Dubai said they hope the industry will be sensible and exercise restraint. Otherwise they fear it will only be damaging its long-term prospects.
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