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29 de enero de 2023 - Año XXVII
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The Shipbuilding market in 2000 (3)


The prices top
While the shipyards' production had been trending upwards with more or less regularity during the nineties, the actual price for newbuildings had been moving down during the same period, with radical price reductions in 1998 resulting from the impact of the Asian Crisis. The year 2000 experienced, for the first time in almost ten years, a significant increase in newbuilding prices.

It is generally acknowledged that an increase in prices for mass produced items is impossible as long as the supply is in excess of demand. The year 2000 experienced the shift where demand for new building exceeded supply and provided the chance to give an accurate measure of real production capacity in the global shipbuilding industry.
 

 

On the issue of capacity there has always been a certain level of debate, perhaps academic, on the part of Korean builders to try and justify their development strategy of the early nineties which saw the creation of additional drydocks in order to match certain demand forecasts at the time, and in face of capacity reduction efforts that were being implemented by Japanese and European Union builders in the wake of previous collapses of newbuilding demand and resulting financial hardship. 

Part of the ambiguity now seems to be settled. However, the question remains about whether it will ever be possible for any of the world's active shipyards to make a good return on their newbuilding business. In spite of significant increases, newbuilding prices remained very low, often even lower than those prevailing before the 1997 Asia crisis and well below those which were existing at the beginning of the nineties when the world orderbook was not even reaching 40 million gt. 

It is legitimate to try to understand why in a year which has seen exceptional demand, it has not been possible to get prices even higher, and one wonders if it will ever be possible to get further increases. The formidable reaction and elasticity of Korean construction capacity along with the Chinese one indeed offers at least a partial explanation of the phenomena of only nominal increase in prices in face of profound increase of demand.
 

Analysis by country

top

Japan

Japan achieved a strong performance, obtaining about one third of the orders with about 14 million gt (end 2000) for a year end total orderbook of 18.1 millions gt, compared with the 1999 year end figure of 17.4 million gt.

However, its market share contracted from 29.5 % down to 25.5 %.


 

During the course of the first three quarters of 2000, Japanese shipbuilding seemed to be missing a certain dynamic response in the face of the surging Korean industry. Japanese yards took only about 11.5 million gt of orders as of the 3rd quarter 2000 maintaining their orderbook at the same level of 1999. Last quarter was more favourable.

Japan's builders had to contend with a strong, overvalued yen in comparison with the currencies of their main competitors. The Korean won maintained its weak levels established during the Asian crisis and the euro has experienced an ongoing depreciation against the US dollar from its inception. The yen, has since September 1999 traded in a band between 105 and 110 yen / US dollar, as opposed to the exchange rate in excess of 120 yen / US dollar since the beginning of 1997.


 

As Japanese shipbuilders had focussed a large part of their production towards the dry bulk sector, they met with considerable success in 1999 and the first part of 2000, during which period demand was strong, especially in Handysize and HandyMax sizes. Japan was not however able to take advantage in 2000 of the full rebound in demand for tankers and containerships newbuildings.

In the fourth quarter of 2000, when it seemed as if the Japanese yen would not be able to recover, Korean yards became saturated and were unable to offer the earlier deliveries that buyers required. Japan's earlier deliveries and rising US dollar prices for newbuildings created a new attraction and the large and medium-sized Japanese shipyards were successfully able to take as many orders as their Korean counterparts. However, small Japanese yards, whose clientele consists mainly of domestic shipowners, are still experiencing difficulties in filling up their berths taking into account the tightness of the funding market in Japan.

It is interesting to note that a certain geographical specialisation has progressively taken place. The question is to know if this specialisation is voluntary or forced.
 


 

 

Japanese shipyards have seen their market share for tankers declining from 46 % in September 1998 to 38 % in 1999 down to 21 % in 2000.

For containerships, figures for the same period represent a decline from 25 % to 12 % finishing at 8 %. Korea by comparison had 31 % in 1998 and finished year 2000 with 63 %. These losses of market share have added equally to financial difficulties. The decline of newbuilding prices combined with the influence of the strong yen had a hard impact on the financial performance of the major ship exporters in Japan who all reported losses in their results announced for the first six months of fiscal 2000 with the exception of Hitachi and NKK which however had posted losses in 1999.

But Japanese yards nonetheless persisted in their efforts to improve their competitive performance. Mitsubishi H.I. and Sumitomo have announced new plans for workforce reductions. Mitsubishi has also decided to specialise its four production sites.

Japanese shipbuilders are also well aware of the need to further integrate their production scale on a nation-wide basis in the face of the competition from the giants of Korea.

In April of 1999, the Japanese central government established a commission to consider the future of shipbuilding in Japan. Their report, published in August 1999, made specific recommendations on the need for shipyard specialisation, combined with a reduction and rationalisation of production into three or four major groups instead of the seven existing today.

Since the publication of the commission's report, discussion has effectively started with regrouping of Kawasaki - Mitsui - IHI as one group, NKK - Hitachi as another, while Mitsubishi and Sumitomo are expected to remain alone. However until now, no concrete arrangements have yet been made. It seems as if the principal difficulty rests in the structure of the large industrial groups. They have to de-consolidate their activities in the shipbuilding sector before being able to achieve the regroupings now under consideration. Kawasaki H.I. has at least announced that they will spin off the shipbuilding division as a stand alone company during 2001.

Japan could thus proceed with regrouping their construction sites, closing some docks, reopening others which have been de-activated in response to the two previous crisis periods in the shipbuilding industry, experienced in the seventies and the eighties in order to compensate the closures of those affected yards and to increase the production and productivity of the new yards.

The Japanese Shipbuilders Association has predicted that the demand for newbuilding could decline in the next few years and this could accelerate the trend towards the regrouping of the Japanese shipbuilding industry.

Premiership
7,200 cbm pressurised, blt 2000 by Murakami Hide - owned by Tachibanaya.
She will be on long term charter with Vitol



Shipping and Shipbuilding Markets in 2000

I N D E X

›››Archivo
DESDE LA PRIMERA PÁGINA
Licitación del gobierno de la India para la realización de un gran puerto de contenedores de transbordo en el Océano Índico
Nueva Delhi
Licitación del gobierno de la India para la realización de un gran puerto de contenedores de transbordo en el Océano Índico
Tendrá una capacidad de 16 millones de teu. Se espera una inversión de cinco mil millones de dólares
Como resultado de la guerra en Ucrania, el Registro Naval de Chipre ha perdido 3,7 millones de toneladas.
Limusina
Mientras tanto, se han registrado buques por dos millones de tsl. Nueva oficina de Royal Caribbean en Limassol
En 2022 el puerto de Marsella Fos manejó 77 millones de toneladas de carga (+ 3%)
Marsella
Registro de contenedores. El tráfico general de pasajeros ha vuelto a los niveles previos a la pandemia
Puerto de Nueva York ha establecido un nuevo récord histórico de tráfico anual de contenedores
New York
Desaceleración de la actividad en el cuarto trimestre de 2022
Las propuestas de Conftransport para el sector del transporte y la logística
Roma
Salvini: Le pedí al Comisario Europeo de Transportes el inicio del procedimiento de infracción contra Austria.
Hapag-Lloyd acquir à 35% por ciento del indio J M Baxi Ports & Logistics
Hapag-Lloyd adquirirá el 35% de la India J M Baxi Ports & Logistics
Hamburgo
Acuerdo para aumentar el porcentaje al 40% con un aumento de capital
Hapag-Lloyd ha hecho otra inversión en el sector terminal portuario, un área en la que la compañía naviera alemana en contenedores ha entrado recientemente en ...
Estable en 2022 el tráfico de mercancías manejado por los puertos de Cerdeña
Cagliari
Recuperación continua en el sector de los pasajeros
MSC y Maersk deciden disolver la alianza 2M con efecto en enero de 2025
MSC y Maersk deciden disolver la alianza 2M con efecto en enero de 2025
Ginebra, Copenhague
Se activó en 2015
La satisfacción de Conmitarma con la aprobación del comité parlamentario de la UE de las disposiciones sobre crédito naval
Roma
Durante muchos años, ha sido durante muchos años esforzarse para garantizar que, a efectos de regulación bancaria, el crédito naval se asimile gradualmente a la infraestructura.
Invertir en la economía azul para crear empleo, aumentar los niveles de ingresos y reducir las emisiones
Losanne
Esto sugiere un estudio científico publicado en "Frontiers in Marine Science"
Inaugurado en Arenzano la nueva Escuela de Alta Formación para Médicos de Bordo
Arenzano
Messina (Asseswners): Es una respuesta concreta a la necesidad real y apremiante de garantizar la salud y la seguridad de las personas que navegan
PROXIMAS SALIDAS
Visual Sailing List
Salida
Destinación:
- orden alfabético
- nación
- aréa geogràfica
El año pasado, el tráfico de mercancías en los puertos de Corea del Sur disminuyó un -2,3%
Seúl
Los contenedores fueron iguales a 28,8 millones de teu (-4,1%)
Iniciativa para activar Livorno un camino ITS dedicado a la logística y el transporte
Livorno
A Noghere un nuevo cluster productivo integrado en el puerto de Trieste
Trieste
La Autoridad del Sistema Portuario del Mar Adriático Oriental ha comprado una superficie de 350.000 metros cuadrados
El lunes en Rapallo se celebrará en la primera edición de "Shipping, Transport & Intermodal Forum"
Génova
Se analizará la situación actual y las perspectivas del sector marítimo y logístico.
En Livorno un tres días de Assoports para profundizar los aspectos de la transformación urbana en la ciudad portuaria
Livorno
Dos de los grupos técnicos de la asociación se reunirán: el especializado en el tema de las relaciones puerto-ciudad y el de los urbanistas.
Córcega Sardinia Ferries participa en el proyecto de Neoline para realizar un barco de vela ro-ro
Córcega Sardinia Ferries participa en el proyecto de Neoline para realizar un barco de vela ro-ro
Go Ligure
Se empleará en una ruta transatlántica
El jueves en Milán una conferencia de Fedespedi sobre "La digitalización logística y el PNRR"
Milán
Desde 2020 la Federación ha hecho su contribución a la construcción del Plan
RINA compró American Patrick Engineering
Génova
Es una empresa de consultoría de ingeniería activa principalmente en los campos de infraestructura, transporte y energía renovable.
El año pasado el tráfico de mercancías en el puerto de Ancona disminuyó un -2,3%
Ancona
Reanudación de los pasajeros
El buque inclinatasi en el puerto de Génova ha sido objeto de detención administrativa.
Génova
Comprobado más de 20 deficiencias de las cuales algunas particularmente graves
Saipem adjudicó dos contratos offshore por un monto de 900 millones
Milán
Actividades en el Atlántico Sur y el Mar de Noruega
Changed Risso compra los riesgos especiales del Trident alemán
Génova
En 2022, la empresa Genovese alcanzó un volumen premium de 440 millones y unos ingresos netos de 57 millones.
PUERTOS
Puertos italianos:
Ancona Génova Rávena
Augusta Gioia Tauro Salerno
Bari La Spezia Savona
Brindisi Liorna Taranto
Cagliari Nápoli Trapani
Carrara Palermo Trieste
Civitavecchia Piombino Venecia
Interpuertos Italianos: lista Puertos del mundo: Mapa
BANCO DE DATOS
Armadores Reparadores navales y astilleros
Expedicionarios Abastecedores de bordo
Agencias marítimas Transportistas
MEETINGS
En Livorno un tres días de Assoports para profundizar los aspectos de la transformación urbana en la ciudad portuaria
Livorno
Usted se reunirá con dos grupos técnicos ...
El jueves en Milán una conferencia de Fedespedi sobre "La digitalización logística y el PNRR"
Milán
Desde 2020 la Federación ha hecho su contribución a la construcción del Plan
››› Archivo
RESEÑA DE LA PRENSA
3rd oil tanker body found, 5 workers still missing
(Bangkok Post)
TAS Offshore in talks to build 27 tugboats
(The Star Online)
››› Reseña de la Prensa Archivo
FORUM de lo shipping y
de la logística
Relazione del presidente Daniele Rossi
Napoli, 30 settembre 2020
››› Archivo
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