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Ships private shipping enterprises under the New Deal tough self-help (two)
Survival for Road
Herald reporter, according to statistics, China Shipbuilding Industry Corporation in nuclear power, wind power, logistics equipment, bridges and pipe support products and other non-vessel value of the entire economic output has accounted for 50% Jiangsu Yangtze River shipping industry group also carry out marine engineering, ship leasing, financial planning and real estate and other diversified businesses explore Dalian Shipbuilding Industry Group Co., Ltd., Shanghai Zhenhua Heavy Industry Group) Co., Ltd. and a number of companies involved in the drilling platform, shipbuilding and other marine engineering equipment market.
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we can see some fund manager is buying up 0.965..reaching $1 soon
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Becarefull , Tomorrow the share may drop , if profits only 20-40 %.
no dividend ???, No new contracts wins.???
ppl may short sell ... becarefull.
if profits more 50 %-100% . wins more contracts .
shorts seller , may be get kills ...??
like swiber 2Q profits up 30% , the share price drop -6 cents .
last done 0.71, no dividend
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International Ship Network Published :2013 -8-14 10:11:24
Shipbuilding industry will meet the " left is king" era
Some analysts pointed out that in South Korea, with the new office market is gradually recovering, the shipbuilding industry will meet the " winner takes all" era.
Shipbuilding breaking news reported that South Korean Kyobo Securities analyst Lee Kang-Rok13 said that the current restructuring of the shipbuilding industry trends, creating a " winner takes all" market environment. He also said that the merchant market declined to the lowest point after the beginning of the recovery, the remaining shipyard likely to get substantial benefits. His analysis, in 2008 and 2009 ship orders dropped significantly, but in the meantime can not ensure shipyard workload in the competition to be eliminated.
According to Clarkson statistics, in 2008 reached a total of 612 worldwide shipyard, but left to the shipyard of 482, about 21% of the shipyard shuttered. Meanwhile, in its 482 shipyards among the orders on hand for the first quarter of this year, the shipyard is 396, of which 86 shipyard failed to ensure that the workload may be bankrupt.
However, recently, some recovery in demand for new shipbuilding, born in the competition progressively ensure shipyard workload. That is, after the shipyard may greet the new " opportunity" to enter the second half of this year, the shipyard to ensure that the workload of about 2 years, you may begin selectively obtain orders, newbuilding prices also rise, expected from 2015 Start shipyard profitability may be significantly improved.
By 2016, the world's merchant order to achieve an average annual growth of 22.7%, it is possible to restore to 2000-2005 38100000 CGT order size level.
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On the road to recovery
Midasâ??s JV company, NPRT has landed another metro contract valued at Rmb1.1bn, which brings total contracts won YTD to c.Rmb2.5bn. The latest and largest of the four contracts clinched this year was awarded by Nanjing Metro Group Co. Ltd. With the recovery of the Chinese
railway sector underway, we are positive that order wins by Midas and its associates will gain momentum and NPRTâ??s earnings will turn around in FY13. Our earnings estimates are unchanged, as is our S$0.70 target price that is still based on 1.29x CY13 P/BV (20% discount to 2010-11 avg.
P/BV of 1.62x). We maintain our Outperform rating, which is premised on Midasâ??s ability to tap into the recovery of Chinaâ??s railway sector. What Happened Midasâ??s JV company NPRT and its
partners announced that they had won a Rmb1.1bn metro contract, the largest of four contracts secured this year. This brings the total value of contracts won YTD to c.Rmb2.5 bn. The contract was awarded by Nanjing Metro Group Co. Ltd for the supply of 29 train sets or 174 train cars for
Phase 1 of the Nanjing Metro Line 4 project. Delivery is slated for FY14-16 and will contribute positively to Midasâ??s earnings in those years. What We Think The substantial contract win will
provide assurance to investors that NPRT is gaining order momentum, in tandem with the recovery of Chinaâ??s railway industry. NPRT has registered losses since FY12 but we are confident that it will turn around in 2H13 and start making a positive contribution to Midasâ??s earnings. While we are
excited by NPRTâ??s second metro contract win in a week, we are still waiting for the resumption of
high-speed rail contracts that will have a greater impact on Midasâ??s earnings.
What You Should Do We believe that Midas is poised to benefit from the recovery of Chinaâ??s
railway sector, particularly from the resumption of high-speed rail contracts. We maintain our Outperform rating on the stock.
CIMB
Ind Goods & Services SINGAPORE
June 5, 2013
IMPORTANT
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Chinese Vessel Heads for Northeast Passage
Posted on Aug 12th, 2013
COSCO Shipping Co. has sent its multi-purpose vessel Yong Sheng on the first ever commercial transit of the Northeast Passage for a Chinese vessel. The company organized a sail-away ceremony at Dalian port in Northeast China?s Liaoning province on Thursday, August 8th.
The Northeast Passage ? a sea lane measuring about 2,936 sea miles, includes: sailing west across the Bering Strait, through the Chukchi Sea, East Siberian Sea, running across the Laptev Sea, Vilkitsky Channel, the Kerala Sea, the Barents Sea the final point being the European waterway ports.
The Arctic Northeast Passage and Arctic Northwest Passage together form the Arctic waterway which is the most economical route in this region because it can reduce voyage for 12-15 days.
Once the new passage is opened, it will change the market pattern of the global shipping industry because it will shorten the maritime distance significantly among the Chinese, European and North American markets.
As for COSCO, the new route will offer favorable opportunities to all of the company?s shipping businesses, during the currently unfavorable period, by cutting operational costs, fuel consumption and carbon emissions.
The multi-purpose vessel Yong Sheng, with the total deadweight tonnage of 19,461 tons, is expected to arrive in the Bering Strait on Aug 25, the final destination being the port of Rotterdam, where the vessel is expected to anchor on September 11th.
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Yangzijiang is private ship builder. cosco is gov.
cosco is number one is china
Yangzijiang is second in china
if Yangzijiang buy over cosco then, Yangzijiang will be the biger in asia .
MOL is the shipping Biger in the wolrd .
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China Unveils Yards Restructuring
The Chinese government has released a restructuring measure towards its shipbuilding industry which is one of oversupplying industries, and decided to strictly control the enlargement of production facilities over the next three years.
On August 4, the State Council of China unveiled 'An Implementation Plan for Accelerating Restructuring of Shipbuilding Industry, Industrial Conversion and Upgrading (2013-2015)' to reduce overcapacity seen in the facilities of shipbuilding industry.
According to the governmental plan, the enlargement of production facilities of shipbuilding industry will be strictly regulated by 2015 and yards with poor competitiveness stemming from deteriorated facilities are to go on M& A. Also, falling behind facilities will be disposed following market functions.
Focusing on major large corporations, the government will proceed with merger and grouping of allied shipbuilding companies and regulation of total quantity will be adopted for shipbuilding facilities, aimed at freezing new investment. Meanwhile, small and medium sized yards will be encouraged to change their business into ship repair, scrapping and non-shipbuilding sectors.
Alongside, the State Council of China will give variety to the demand structure of shipbuilding to induce various new contracts for high-end vessels. With this, the governmental department will realize technological innovation and establish a groundwork for competitive companies to survive, with securing major shipbuilding technologies.
Furthermore, the government is seeking to intensively foster industries of offshore structure, shipbuilding materials and equipment, together with expanding and offering ship financing, such as buyer credit and so on, for overseas owners to purchase ships.
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Nantong ship enterprises sharp rebound in new orders
Source: China Jiangsu Network 2013-08-13 10:23:06
Cope with the international shipbuilding market complex and grim situation, the State Council issued last week, ship industry transformation and upgrading of structural adjustment programs, which give Nantong ship enterprises brought Policy gospel. Reporter yesterday from the Municipal Economic and Information Technology Committee was informed that the city's overall stabilization of the shipbuilding industry, marine equipment industry development trend is good.
The first half of this year, the city's new shipbuilding orders Enterprises 45, 1,335,000 dwt, new orders more than last year's 1.04 million dwt. The city's business orderbook of about 16.3 million dwt, total ranks first in the province. Orders from the new structure, new orders this year, mainly in the main bulk carriers and special vessels, including LNG carriers, heavy lift ship engineering vessels and other special vessels orders are 23, accounting for more than half. Pacific Marine received three new vessels 27,500 cubic +5 small LNG ship orders, to achieve the city's LNG ship construction breakthroughs in the field. Experts reason that this year a substantial rebound in orders in 2012 is built on the basis of very few new orders, in absolute terms, the volume of new orders this year, the city and the first half of 2011 compared to 4.54 million dwt orders is still a considerable large gap.
The face of the downward trend of traditional shipbuilding orders, Nantong shipping enterprises will develop the direction of target high added value, promising marine engineering equipment manufacturing industries. Marine new orders continued to grow, the first seven months, the city received a total enterprise orders 12 offshore platforms, approximately $ 2.08 billion, an increase of 18.2%. Among them, China Merchants Heavy Industry (Jiangsu) Co., Ltd. located in Haimen after the orders have been awarded six platforms, approximately $ 1.18 billion Nantong COSCO Ship orders to undertake three rigs, approximately $ 540 million RSHI undertake two jack-up platform orders, approximately $ 360 million. Wison Heavy COSL obtained from the Gulf of Mexico a modular rig construction contract. At present, the city's enterprise handheld marine orders of approximately $ 6.6 billion.
Marine industrial output continued to grow rapidly in the first half of marine emerging industry output value 11.73 billion yuan, an increase of 14.2%.
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Midas Holdings: Green Shoots Of Recovery Buy, TP $0.75
The newly formed China Railway Corp issued Rmb20bn bonds last Thursday. In our view, it is a necessary move to get China?s ambitious railway plans back in gear and could potentially result in more intensive investments in the 2H13.
We continue to like Midas as a major beneficiary of the investments in China railway sector. Maintain our BUY rating and target price of SGD0.75.
The bond sales could help to ease the concern on the funding source for developing China?s rail system.
The RMB20b bonds are just the first batch of the RMB150b bonds that China Railway is expected to issue this year. Total investment in the China rail sector YTD also lags behind the full year investment target of RMB650b due to the restructuring of the Ministry of Railways. That implies
MIDAS SP | Mkt Cap USD464.3m | ADTV USD3.3m
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from Kim Eng
http://research.maybank-ib.com/pdf/email_content/SG_Daily_270513_1426.pdf
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Revitalize" the shipping industry
Source: China Ship Online 2013-08-12 11:38:28
For deep winter shipping industry , in a lot of efforts has always been lackluster attempt, when finally have a strong policy support. August 4, the State Council officially issued " shipbuilding industry to accelerate the implementation of structural adjustment programs to promote the transformation and upgrading (2013-2015)" (hereinafter referred to as the " program" ), defined the next three years, the shipbuilding industry restructuring and transformation and upgrading of the main tasks proposed necessary to resolve the contradictions of excess capacity, we must strive to achieve the shipbuilding industry from large to strong changes.
The " program" launched after the reporter learned from the shipbuilding industry within the current industry there are already signs of mergers began shutting down, mostly among enterprises in some small boats, while some large shipping enterprises, it is likely to start a internal integration.
Ships sector collective rise
In the " program" launched next day, August 5 morning, the ship has been sluggish stocks collective outbreak, plate or table ranks the first one. In addition to China Heavy suspension, the shares in the ship trading, China Shipbuilding rose nearly 9 percent, Guangzhou Shipyard International rose 8.13 percent. It is obvious that the " program" the introduction of the entire industry is undoubtedly a shot in the arm. Nevertheless, the major shipbuilding enterprises listed company itself for the launch of the program's attitude still seems relatively calm. Shipbuilding shares secretaries Chen Hui, announced that the company mainly produces marine accessories, the program had no effect on the company at present, the day price limit for the company, said she personally did not understand.
The relevant departments Sainty Marine who has also publicly stated that due to the specific measures have not yet introduced, it can not determine its impact on the company. But the introduction of the program is an opportunity for the company, for the entire shipbuilding industry is a positive, help the shipbuilding industry restructuring.
" The State Council announced promote marine industry transformation and upgrading program to the entire marine industry has brought favorable policies, so the entire shipbuilding industry stocks have soared. " Investment Advisor in the transportation industry researcher Cai Jianming representation.
However, can not be ignored is that the current shipbuilding enterprises are caught in an unprecedented downturn among the nearly 60% of the enterprises are facing shortage of production tasks, and even produce unsustainable situation.
According to recently published " China's shipbuilding industry in the first half economic performance report" shows that from January to June this year, the shipbuilding industry 80 key enterprises to monitor key economic indicators are significant decline, in which a total profit of one the largest decline, down 53.6%. Other three indicators, namely industrial output value, export delivery value and achieve the main business income decline also exceeded 15%.
At the same time, the relevant shipping enterprises operating indicators are also not satisfactory. China Shipbuilding Association focus on monitoring the 80 shipbuilding enterprises realized main business income of the first half of 120.3 billion yuan, down 18.5% total profit of 3.58 billion yuan, down 53.6 percent. Various sub-sectors shrinking industrial output across the board, including, ship manufacturing 88 billion yuan, down 31.2 percent shipbuilding industry 12 billion yuan, down 27.3 percent ship repair industry 5.46 billion yuan, down 8.5%.
" ship industry difficulties, both factors affected by economic cycles, there are also structural factors. " China Shipbuilding Industry Association Secretary-General Wang Jin Lian said," plan " is not only to resolve the current excess capacity, expand the relevant provisions made to wait outside, and more defined the industrial transformation and upgrading, accelerate the realization of the shipbuilding industry from large to strong task.
Merger wave start shipping enterprises
According to " plan" put forward the idea of view, perhaps the shipping enterprises mergers and acquisitions will become the highlight of the next industry.
" Plan" clearly requested " to promote corporate mergers and acquisitions, integration of a number of large shipbuilding, ship repair and marine engineering equipment and infrastructure resources, the development of an internationally competitive enterprise groups of ships."
" The government encourages mergers and acquisitions, aimed at the elimination of backward production capacity, improve industrial concentration from policy to provide financial and credit support selective point of view, this approach is feasible from a general point of view, there is more strength in shipbuilding enterprises The policy of restructuring programs to benefit the boat will be a large enterprise or shipping enterprises mergers and acquisitions, industry backward production capacity will gradually be eliminated. " Investment Advisor in the transportation industry researcher Cai Jianming representation.
Reporters also noted that as the industry ills become overwhelmed by overcapacity " program" in the focus of regulation of the object. " Plan" clearly states that the shipping industry is not only new capacity is strictly prohibited, under construction moratorium on the construction of shipbuilding-related projects are also required to clean-up.
In fact, as early as 2009, the government has issued a " ship industrial restructuring and revitalization plan (2009-2011)" , comparing the two plans is not difficult to see that the attitude of the government for the shipbuilding industry has been from the original " keep production steady and relatively fast growth " completely reversed as" new capacity is strictly prohibited, " the government's determination to strictly control the production capacity is evident.
In addition, overwhelmed by the " program" at the same time requires land, transportation, environmental protection and other departments shall not apply for land and shore supply, the EIA approval and other related businesses, financial institutions shall not provide any form of additional credit support.
In fact, many private shipping enterprises are facing capital chain tension. Which private corporate giants Rongsheng Heavy Industries ship in early July had also heard rumors of wage strikes. According to the reporter, the first half of this year, the outbreak of small and medium sized coastal areas of Zhejiang Shipyard closures continues.
The " plan" after the release of small and medium enterprises will undoubtedly once again tightened capital chain. Shanghai Shipbuilding Industry Association, honorary president Johnny Chan said, by the impact of more stringent control over loans will still be small and medium private enterprises.
However, on the other hand, corporate mergers and acquisitions ship credit has won the " Programme" unequivocal support. " Program" that we have to increase the shipbuilding enterprise mergers and reorganizations, mergers and acquisitions as well as small and medium sized shipyards overseas business transformation and product structure adjustment credit financing support.
Although the shipping industry mergers and acquisitions details are still being further developed, however, according to Chen Jinhai, currently part of Jiangsu and Zhejiang Provinces more difficult for small and medium business enterprises have gradually begun shipping mergers and acquisitions.
The first to benefit enterprises
Apart from the first to the merger and reorganization of enterprises in the boat, the industry's leading enterprises are also hoping this round of policy " Dongfeng" , save the environment downturn had caused the decline.
It is understood that some large enterprises have been gradually began to plan their merger and reorganization of the road. According to GSI's announcement, the company intends to non-public issue of H shares to raise funds not exceeding a total $ 2.5 billion for the acquisition of Guangzhou Longxue Shipbuilding Co., Ltd. and the supplemental listing company liquidity. On the other hand, Guangzhou Shipyard International also hopes to acquire Longxue other two shareholders in the hands of 40% of the shares.
It is understood that, as the largest shipbuilding base in southern China, CSSC Longxue shipyard has 50 tons of large dock 2, Berths 4, 600 tons gantry crane 4, the annual shipbuilding capacity of 3.5 million deadweight tons, the output value of up to more than 80 billion yuan.
In addition to mergers and acquisitions, the integration of resources between each other has become an important task for the next ship prices. According to earlier media reports, for example, because production of LNG ship Hudong Shipyard limited space, south boat on the coordination of the Group's internal lend Changxing shipyard Hudong Shipyard.
The " new" program " in terms of production capacity, perspective, or the perspective of promoting mergers and acquisitions are ultimately those of the larger enterprises benefit more, and some fewer orders itself, financing difficulties of the private boat enterprises, waiting for them can only be merged or reorganization. " one many years engaged in the shipbuilding industry insiders told reporters," and the program also made a number of provisions relating to support high-tech R & D, due mainly large ship enterprises play technology and R & D tasks, but also to benefit mainly large ship enterprises. "
The Chinese Heavy secretaries Guo Tongjun recent media interview, also said that the introduction of the program should Fuyoufuqiang, focusing on supporting the international competitiveness of the shipbuilding companies, such as large central enterprises or large local private enterprises, and those who do not own property rights, low-end products produced, there is no continued viability of the enterprise, you should let out of the market.
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MIDAS 2Q 2013 result shell be higher then 1Q 2013.
compare with last year 2012 2Q with Revenue 219 Milion Cost of sales (150,583) Gross profit 69,259 Milion.
MIDAS 1Q 2013 Revenue 209 Milion.
2Q 2013 Revenue 290 Milion , Gross profit 150 Milion ??
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Source: International Ship Network Published :2013-8-12 9:51:49
Singapore's shipbuilding industry has been going downhill
Specially constructed OSV Singapore Pacific Richfield Marine Chairman and CEO Rony Sudjaka Indonesian people have been known to be a shipping into their own blood person.
Sudjarka said that in 1989 he founded the company, although the fierce competition, but he does not suddenly become overly concerned, because he built and owned vessels are high specification, with a large engine (Product Buy Sell) and more multiple redundant systems.
Sudjarka currently has 55 ships and a shipyard, the shipyard has a dock can be built every 18 months eight vessels. Sudjarka them to lend their shipbuilding oil companies around the world. In addition Sudjarka also has two design companies, responsible for his innovative design concepts into reality OSV. Three years ago, Pacific Richfield Marine became the first in Singapore to simultaneously build nine ships shipyard.
Sudjaka recalls: " Singapore's shipbuilding industry is moving toward the downhill, many orders went to China, where the cheaper 30%."
Sudjaka father in 1926 in Hong Kong Taikoo shipyard work, then returned to Indonesia to continue to engage in ship construction. 76-year-old Sudjaka already OSV industry for half a century.
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Xin Fu Yangzi Shipbuilding two million cases ship the same day drydocking
Source: China Ship Net 2013-08-08 08:58:07
Jiangsu Yangtze River shipping industry Group's construction of the third and fourth ship ten thousand TEU container ship on July 18 at 9:00 am in the Yangtze Xin Fu Shipbuilding dock docking ceremony was held. Sun Jian Su-hua, SHEN Lin Tao, Gu Square and other companies and department heads, and SEASPAN shipowners, DNV ship inspection join the ceremony, which marks the Xin Fu capacity further enhanced.
Xin Fu dock system within the 2nd first million cases of ship production is orderly, planned Oct. 26 Sunrise dock, on the 4th July the 8th boat into the dock, the success achieved within three months of a floating state, which for the new Yangzi Xin Fu is a challenge, at present, the production process there are some bottlenecks, mainly in the following aspects: 1, serious shortage of manpower, equipped with slow digestion after staging, scaffold erection and other ancillary work to keep up . 2,7 months to September high temperatures, low productivity, but in the full release of volume, low-volume complete, long production cycle. 3, No. 4 produced by the new plant can not be segmented to the factory ship, causing deployment of touch. 4, the first ship technical modifications capacity, production can not according to plan an orderly manner. 5, the owner ship inspection requirements, inspection pass rate is not high segment. All aspects of the production process is constantly groping in uncertainty and so on. The face of difficulties, the company makes a concerted effort, in line with the principle of production of services, a breakthrough in finding solutions to the problem: the introduction of a new construction team, to expand the number of existing construction adjust their working hours to respond to hot weather improve the site working environment for production workers providing air coolers, shade cloth covering the production area improving workers' accommodation in dormitory installation of air conditioning actively communicate with shipowners ship inspection, solving the problems encountered during the inspection communicate with the new plant, the deployment of boats and barge traffic to segment, etc., adopted a series of measures to deal with.
Three boats also be built, Xin Fu to bring a lot of pressure, but they are also an integrated comprehensive ability Xin Fu opportunity, but also a person to enhance the management capacity Xin Fu opportunities. Strive to shorten the digestion cycle segment, do a good job the first vessel on the 2nd and the 4th ship's integrity on the 8th ship afloat, will be our focus at this stage.
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New Yangzi Shipbuilding 2500TEU container ship delivered
Source: Steel Union Information 2013-08-08 10:35:21
July 7, New Yangzi Shipbuilding built as Klaveness 36 2500TEU container ship slowly left the dock, began its voyage trip. This marks Klaveness in New Yangzi Shipbuilding 2500TEU second ship built container ships smooth delivery.
The ship on April 2, 2013 launch, because after it was launched, 35, 2500 marked boat is at sea trials, the critical period of delivery of the ship, go all out to ensure the project group and workshop delivery of the Vessel, No. 35, No. 36 boats on the water After the pre-production schedule brings a certain extent. After the successful delivery of 35 vessels, the project team will manage with the workshop quickly transferred to the strength and construction of power boat No. 36, to pay close attention to production and construction schedule, completed in May 10 generator commissioning and load test, May 27 to complete empty Boat determination June 1 host mooring test inspection ended, June 4 to 6 trials successfully. Back to the factory after the trials of various departments to seize on shipowners, ship inspection observations to eliminate work in the June 19 completion of the ship's naming ceremony, July 1 ship inspection certificate obtained, July 3 signature delivery.
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EDrill-1 and EDrill-2 drilling equipment sets (DES) at Oilfield Equipment & Structureâ??s fabrication yard in Singapore are progressing ahead of schedule and are on track for pre-commissioning in October and December 2013 respectively.
The DES will be fully assembled with the mast raised and scoped at OESâ?? fabrication yard prior to being transported to the COSCO shipyard for full commissioning and integrated acceptance testing with the tender barge power and control systems.
This process allows drill crews to assist in preliminary function tests of the Drawworks, Topdrive, Accumulator, BOPâ??s and offline activities cantilever (OAC) pipe handling equipment in co-operation with equipment vendor commissioning specialists.
EDrill-1 Drillfloor being readied for lifting from the OES fabrication shop onto the DES Masterskids. This compact Drillfloor is a key part of the light weight DES package designed to move in only three (3) heavy lifts. During rig up and rig down the Drillfloor is landed â??Hands Freeâ?? by the heavy lift crane operator (HLCO) from the cab of his Favelle Favco PC-400 using 2 constant tension load control air winches. Integrating the Drillfloorâ??s outboard cantilevers eliminates the use of Hook & Pin connections thereby reducing overall weight, manual handling risk exposure and adverse weather handling delays.
EDrill-1 and EDrill-2 Masterskids are 23ft high by 48ft wide and designed to match wellhead platform (WHP) skid beams ranging from 30ft to 45ft while supporting 1,000,000 lbs Hookload and 750,000 lbs Setback loading. They can be scaled up to accommodate WHP capping beam spans up to a maximum of 60ft by adding variations of 3 foot, 8 foot, and 12 foot wide extensions.
EDrill-1â??s 152 foot telescoping derrick arrives from Akerâ??s manufacturing facility in Katy, Texas and is offloaded from the transport vessel. The mastâ??s 1,000,000 lbs Hookload and 750,000 lbs Setback loading capacities give it the ability to drill 30,000 foot wells while simultaneously racking back production casing and tubing strings.
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(Weekly Readings) The company's ambitious plans to help two fellow shipyard for the first time among the gas transportation sector, the company will be 12 83,000 cubic meters of new ship orders split gave the two shipyards
An ambitious Chinese company plans to operate a very large gas carriers (VLGC), this program will help two domestic shipyards for the first time entered into this field.
According to sources, said Donghua Shenzhen-listed energy (also known as Zhangjiagang East Energy Corporation) want to build a series of 83,000 cubic meters of new building and has been with China Shipping (Group) Company and China Shipping Industry's Jiangsu New Yangtze contact.
" Trade Wind" was originally reported in November last year the news VLGC orders, after the company reportedly owned Jiangnan Shipyard has ordered six VLGC, delivery period from the fourth quarter of 2014. But this single vessel containing 10-16 final forming of a transaction fails, the relevant reasons not disclosed.
Currently Vice President Vincent Zhao Donghua Energy told the " trade winds" , the company is continuing to proceed with the new shipbuilding projects, and has set up to 12 new vessels (including alternative boat).
" But this is not the Jiangnan Shipyard cooperation," Zhao said. " We found the other shipyards to build these very large gas carriers, we currently can not reveal the name of the shipyard."
Insiders pointed out that the shipyard was selected in the sea shipyard industry in Yangzhou - China Shipping Jiangsu Shipyard, as well as the Yangtze River shipyards.
China Shipping Industry (Jiangsu) Co., Ltd. and the Yangtze River officials confirmed this new single, but declined to give details, saying the deal has not yet entered into force. According to industry estimates, VLGC boat price is less than $ 70 million per vessel, and that the two shipyards each won six (including alternative boat).
" Jiangsu Yangtze River and the sea had no experience to build liquefied gas tankers, but they will be in East energy projects together," a source said.
" We studied this sector for some time, we believe that we can deliver these ships," one official said the Yangtze River.
" In creating the first ship, we may encounter some technical problems," he added. " But as long to overcome these difficulties, the construction of the rest of the ship will be very easy."
East Energy operations throughout China by far the largest LPG station, and learned that there are plans to continue to expand production capacity. In addition, the company is also building two propane dehydrogenation (PDH) unit to produce propylene, to create places were in Ningbo, Zhejiang and Jiangsu Zhangjiagang, is expected to vote in the 2014 camp. " We will ship these VLGC for liquefied petroleum gas shipped to China, will be used in international trade," Zhao said.
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China's shipbuilding industry to expand Korea orders advantage
At 10:30 on August 9, 2013 Source: Xinhua International
As the world's largest shipbuilding country, China has expanded its leading position in Korea, as supported by the state shipyard won the contract manufacture of gas carriers, however, China's private shipyards, struggled to obtain funding.
The first seven months of this year, China received 27.8 million dwt ship orders, accounting for about 47% of the global shipbuilding contracts, leading South Korea 7.8 million tons. The year before, the gap of 100 million tons.
Supported by the government shipbuilding companies received nearly three quarters of these contracts, which indicates that access to finance is not a problem for them. This is China's largest private shipbuilding enterprise China Rongsheng Heavy Industries Group Holdings Limited, the situation differently. Not getting any this year shipbuilding orders, China Rongsheng Heavy Industries Group Holdings Limited last month to seek government support. China this week has troubled shipping industry announced a three-year plan.
Seoul E * TRADE analyst Pumao Xian (sound), said: " China is trying to develop support for the shipyard by the State in order to help them to be more competitive when competitors face South Korea, which would mean that most of the face private shipyard funding problems will not get much help. "
According to shipbroker Clarkson data provided, Hyundai Heavy Industries, Samsung Heavy Industries and other South Korean shipbuilding companies received 20 million tons of shipbuilding orders. Throughout the world, as of July, shipbuilding orders from different companies amounted to 59.6 million tons.
According to UOB Kay Hian Holdings Ltd. said that in China, the first half of this year, supported by the government enterprises 74% of the new orders.
Hudong-Zhonghua Shipbuilding (Group) Co., Ltd. from China Shipping Development Co., earlier this year won the manufacture six LNG contracts. COSCO Dalian Shipyard Co., Ltd. acquired a manufacturing contract for LNG carriers.
China earlier this week announced a three-year plan to urge financial institutions to support the shipping industry. The Government also hopes to strictly control new capacity ship industry and promote the development of high-end products.
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Chinese shipping enterprises force offshore drilling platforms
At 10:57 on August 7, 2013 Source: International Ship Network
Offshore rig construction industry is one of Singapore's few heavy industry, despite strong demand, the industry still faces challenges. The reason for this phenomenon is that counterparts from China more competitive.
Wall Street Journal recently reported that Keppel Group, Keppel Offshore & Marine (Keppel Offshore and Marine) and Sembcorp this business strategy is to come up with high-end market shift, they had specialized in producing shallow water drilling platform, and now construction can begin in the deeper and more extreme conditions of oil and gas drilling equipment. But in this market segment Korean shipping prices have been very strong position, while Chinese enterprises figure is also increasing. The two Singapore companies reported second-quarter profit fell.
The Wall Street Journal reported that Asian shipyards (mostly from South Korea, China and Singapore) controls the offshore drilling equipment market share of around 75%, until two years ago, Keppel and Sembcorp jackup drilling platform or a major supplier. Jack-up drilling rigs generally built in relatively shallow waters of the sea bed. The cost of such a platform is usually about $ 200 million. But in 2012, the two companies won only nine jackup drilling platform, new orders, and including the Dalian Shipbuilding Industry Offshore Engineering Co., Ltd. and CIMC Raffles Shipyard in China, including COSCO is won 14 orders. First seven months of this year, China has 23 orders ahead of Singapore's 17 orders. Although Singapore builders still holding long-term orders, but cheaper Chinese drilling platform for Singapore means getting new business will become increasingly difficult.
And Singapore, threatened sizeable industry. Singapore Ministry of Trade and Industry data show that last year marine engineering in Singapore's manufacturing accounted for 6.4% of total output, bringing about 190 million Singapore dollars (about 15 billion U.S. dollars) in revenue.
Chinese shipyards in 2013 received orders rig is expected to hit the biggest this year, which is mainly affected by shipping enterprises from China's shipbuilding industry overcapacity redeploy resources boost. Chinese Government proposed five-year plan to build the Bohai Bay, Yangtze River Delta and Pearl River three marine engineering equipment manufacturing base.
China's " Twelfth Five-Year Plan" goal is to marine equipment sales reached 200 billion yuan, accounting for 20% of the global market. Religare Capital Markets ASEAN head of research Vincent Fernando said that in order to achieve these objectives and to obtain technical know-how, Chinese shipyards all want to beat the competition and even sacrifice profits.
Keppel Group announced last month, the company plans in 2014 launched a new rig designs. Drilling rigs for three thousand meters water depth exploration work, the cost is almost self-elevating drilling platforms fourfold. Singapore and China in this professional field can compete with the South Korean shipyard remains to be seen.
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Chinese shipping enterprises force offshore drilling platforms
At 10:57 on August 7, 2013 Source: International Ship Network
Offshore rig construction industry is one of Singapore's few heavy industry, despite strong demand, the industry still faces challenges. The reason for this phenomenon is that counterparts from China more competitive.
Wall Street Journal recently reported that Keppel Group, Keppel Offshore & Marine (Keppel Offshore and Marine) and Sembcorp this business strategy is to come up with high-end market shift, they had specialized in producing shallow water drilling platform, and now construction can begin in the deeper and more extreme conditions of oil and gas drilling equipment. But in this market segment Korean shipping prices have been very strong position, while Chinese enterprises figure is also increasing. The two Singapore companies reported second-quarter profit fell.
The Wall Street Journal reported that Asian shipyards (mostly from South Korea, China and Singapore) controls the offshore drilling equipment market share of around 75%, until two years ago, Keppel and Sembcorp jackup drilling platform or a major supplier. Jack-up drilling rigs generally built in relatively shallow waters of the sea bed. The cost of such a platform is usually about $ 200 million. But in 2012, the two companies won only nine jackup drilling platform, new orders, and including the Dalian Shipbuilding Industry Offshore Engineering Co., Ltd. and CIMC Raffles Shipyard in China, including COSCO is won 14 orders. First seven months of this year, China has 23 orders ahead of Singapore's 17 orders. Although Singapore builders still holding long-term orders, but cheaper Chinese drilling platform for Singapore means getting new business will become increasingly difficult.
And Singapore, threatened sizeable industry. Singapore Ministry of Trade and Industry data show that last year marine engineering in Singapore's manufacturing accounted for 6.4% of total output, bringing about 190 million Singapore dollars (about 15 billion U.S. dollars) in revenue.
Chinese shipyards in 2013 received orders rig is expected to hit the biggest this year, which is mainly affected by shipping enterprises from China's shipbuilding industry overcapacity redeploy resources boost. Chinese Government proposed five-year plan to build the Bohai Bay, Yangtze River Delta and Pearl River three marine engineering equipment manufacturing base.
China's " Twelfth Five-Year Plan" goal is to marine equipment sales reached 200 billion yuan, accounting for 20% of the global market. Religare Capital Markets ASEAN head of research Vincent Fernando said that in order to achieve these objectives and to obtain technical know-how, Chinese shipyards all want to beat the competition and even sacrifice profits.
Keppel Group announced last month, the company plans in 2014 launched a new rig designs. Drilling rigs for three thousand meters water depth exploration work, the cost is almost self-elevating drilling platforms fourfold. Singapore and China in this professional field can compete with the South Korean shipyard remains to be seen.
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