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.