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Global overcapacity and difficult to suppress shipbuilding plan
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Global overcapacity and difficult to suppress shipbuilding plan

  • Categories:Industry dynamics
  • Author:
  • Origin:
  • Time of issue:2012-12-10 15:38
  • Views:1

(Summary description)Widdows,chairmanofRickmersgroup,aGermanshipowner,justrecentlyfinalizedaprivateinvestmenttobuildacontainershipbusinesswithatotalpriceof700millionUSdollars.Later,hepointedoutthatforshipownerswhoreallyneednewcapacity,theglobalexcesscapacityshouldnotbethebiggestobstacletothenewshipbuildingplan.Earlierthisweek,Rickmersannouncedthatithadenteredintoastrategicpartnershipdealwithoakcapitalmanagementtofinalizetheshipbuildingplanof"8+8"environmentallyfriendlycontainerships,withanewshipsizeof5000teu-7000TEU,whichisexpectedtobemainlyputontheincreasinglyvigorousroutesinAsia.Inadditiontothedealwithoak,Rickmersisalsoplanningseveralothernewshipbuildingdeals,involvingenvironmentallyfriendlyshipsofabout9000TEUto10000TEU,whichwillbelaunchedontransPacificroutes.Althoughthereisstillalongwaytogobeforesigningtheshipbuildingcontract,Rickmerssaidthatthegroup'snegotiationswithshipyardsandnewshipcharterersareprogressingrapidly,andifnothingunexpected,moreenergy-efficientshipsareexpectedtoreplacethegroup'sexistingoldcapacity.Widdowspointsoutthat"tosomeextent,globalexcesscapacityisnotnecessarilyrelatedtonewshipbuilding.Itdoeshaveitsvisibilitytoenlargethesupplyanddemandsituationoftransportationcapacitytotheglobalscope,butiftheCharterersandshipsareinshortsupplyonaboomingroute,thenthedemandsituationofthemacrosupplyanddemandimbalanceforasingleroutewillbepale."AlthoughRickmersandoakcapitaldeclinedoffersfromseveralshipownersbeforefinalizingthedeal,theirpartnershipwiththeformerdevelopedwellandexperiencedalongtest.Thepurposeoftheconstructionofthisefficientandwide5000TEUshipistoreplacetheold2500-3500TEUtransportcapacityfromoutsideChina.RickMaispointedoutthattherapiddevelopmentofmanyroutesintheAsianregion,mostofthemcanwithstandlargercapacity,andefficientlargescalenewcapacityisgenerallyinsufficient.Thetrendoflarge-scale,energy-savingandhighefficiencyhasbecome,buttheexistingshipdesignschemeisnotthebestandfinalone.Itisnecessaryforshipyardsandshipownerstokeeppacewiththetimesandconstantlyimproveandoptimizeshipbuildingtechnology.Widdowsdidnotdisclosethetransactioncostoftheabove-mentionedships,buthesaidthataccordingtothedifferencebetweenthenewshipsandtheChinesemarketafterdeliveryandthecharacteristicsoftheship'sfinaldesign,thecostofthe5000TEUwideshipsisabout40-50millionUSdollars,whilethatofthecontainershipsofabout10000containersisabout85-90millionUSdollars.AccordingtoWiddows,oakcapitalalsoacknowledgedtheneedforshippingcompaniestoupgradetheircapacity,andpotentialCharterersofnewshipshavestartedcharternegotiationswithmajordealersonallplannednewcapacity.However,whethertheprivatefundcanrecoverthereturnbroughtbytheabove-mentionedlong-terminvestmentstillhastowaitforthetestoftime.Atthesametime,heexpectsthatinthenexttwoyears,withthewithdrawalofkgfundfamily,privatefundswilldosomethingintheshipfinancingmarket.

Global overcapacity and difficult to suppress shipbuilding plan

(Summary description)Widdows,chairmanofRickmersgroup,aGermanshipowner,justrecentlyfinalizedaprivateinvestmenttobuildacontainershipbusinesswithatotalpriceof700millionUSdollars.Later,hepointedoutthatforshipownerswhoreallyneednewcapacity,theglobalexcesscapacityshouldnotbethebiggestobstacletothenewshipbuildingplan.Earlierthisweek,Rickmersannouncedthatithadenteredintoastrategicpartnershipdealwithoakcapitalmanagementtofinalizetheshipbuildingplanof"8+8"environmentallyfriendlycontainerships,withanewshipsizeof5000teu-7000TEU,whichisexpectedtobemainlyputontheincreasinglyvigorousroutesinAsia.Inadditiontothedealwithoak,Rickmersisalsoplanningseveralothernewshipbuildingdeals,involvingenvironmentallyfriendlyshipsofabout9000TEUto10000TEU,whichwillbelaunchedontransPacificroutes.Althoughthereisstillalongwaytogobeforesigningtheshipbuildingcontract,Rickmerssaidthatthegroup'snegotiationswithshipyardsandnewshipcharterersareprogressingrapidly,andifnothingunexpected,moreenergy-efficientshipsareexpectedtoreplacethegroup'sexistingoldcapacity.Widdowspointsoutthat"tosomeextent,globalexcesscapacityisnotnecessarilyrelatedtonewshipbuilding.Itdoeshaveitsvisibilitytoenlargethesupplyanddemandsituationoftransportationcapacitytotheglobalscope,butiftheCharterersandshipsareinshortsupplyonaboomingroute,thenthedemandsituationofthemacrosupplyanddemandimbalanceforasingleroutewillbepale."AlthoughRickmersandoakcapitaldeclinedoffersfromseveralshipownersbeforefinalizingthedeal,theirpartnershipwiththeformerdevelopedwellandexperiencedalongtest.Thepurposeoftheconstructionofthisefficientandwide5000TEUshipistoreplacetheold2500-3500TEUtransportcapacityfromoutsideChina.RickMaispointedoutthattherapiddevelopmentofmanyroutesintheAsianregion,mostofthemcanwithstandlargercapacity,andefficientlargescalenewcapacityisgenerallyinsufficient.Thetrendoflarge-scale,energy-savingandhighefficiencyhasbecome,buttheexistingshipdesignschemeisnotthebestandfinalone.Itisnecessaryforshipyardsandshipownerstokeeppacewiththetimesandconstantlyimproveandoptimizeshipbuildingtechnology.Widdowsdidnotdisclosethetransactioncostoftheabove-mentionedships,buthesaidthataccordingtothedifferencebetweenthenewshipsandtheChinesemarketafterdeliveryandthecharacteristicsoftheship'sfinaldesign,thecostofthe5000TEUwideshipsisabout40-50millionUSdollars,whilethatofthecontainershipsofabout10000containersisabout85-90millionUSdollars.AccordingtoWiddows,oakcapitalalsoacknowledgedtheneedforshippingcompaniestoupgradetheircapacity,andpotentialCharterersofnewshipshavestartedcharternegotiationswithmajordealersonallplannednewcapacity.However,whethertheprivatefundcanrecoverthereturnbroughtbytheabove-mentionedlong-terminvestmentstillhastowaitforthetestoftime.Atthesametime,heexpectsthatinthenexttwoyears,withthewithdrawalofkgfundfamily,privatefundswilldosomethingintheshipfinancingmarket.

  • Categories:Industry dynamics
  • Author:
  • Origin:
  • Time of issue:2012-12-10 15:38
  • Views:1
Information
Widdows, chairman of Rickmers group, a German shipowner, just recently finalized a private investment to build a container ship business with a total price of 700 million US dollars. Later, he pointed out that for shipowners who really need new capacity, the global excess capacity should not be the biggest obstacle to the new shipbuilding plan.
Earlier this week, Rickmers announced that it had entered into a strategic partnership deal with oak capital management to finalize the shipbuilding plan of "8 + 8" environmentally friendly container ships, with a new ship size of 5000 teu-7000 TEU, which is expected to be mainly put on the increasingly vigorous routes in Asia.
In addition to the deal with oak, Rickmers is also planning several other new shipbuilding deals, involving environmentally friendly ships of about 9000 TEU to 10000 TEU, which will be launched on trans Pacific routes.
Although there is still a long way to go before signing the shipbuilding contract, Rickmers said that the group's negotiations with shipyards and new shipcharterers are progressing rapidly, and if nothing unexpected, more energy-efficient ships are expected to replace the group's existing old capacity.
Widdows points out that "to some extent, global excess capacity is not necessarily related to new shipbuilding. It does have its visibility to enlarge the supply and demand situation of transportation capacity to the global scope, but if the Charterers and ships are in short supply on a booming route, then the demand situation of the macro supply and demand imbalance for a single route will be pale. "
Although Rickmers and oak capital declined offers from several shipowners before finalizing the deal, their partnership with the former developed well and experienced a long test.
The purpose of the construction of this efficient and wide 5000 TEU ship is to replace the old 2500-3500 TEU transport capacity from outside China. Rick Mais pointed out that the rapid development of many routes in the Asian region, most of them can withstand larger capacity, and efficient large scale new capacity is generally insufficient.
The trend of large-scale, energy-saving and high efficiency has become, but the existing ship design scheme is not the best and final one. It is necessary for shipyards and shipowners to keep pace with the times and constantly improve and optimize shipbuilding technology.
Widdows did not disclose the transaction cost of the above-mentioned ships, but he said that according to the difference between the new ships and the Chinese market after delivery and the characteristics of the ship's final design, the cost of the 5000 TEU wide ships is about 40-50 million US dollars, while that of the container ships of about 10000 containers is about 85-90 million US dollars.
According to Widdows, oak capital also acknowledged the need for shipping companies to upgrade their capacity, and potential Charterers of new ships have started charter negotiations with major dealers on all planned new capacity.
However, whether the private fund can recover the return brought by the above-mentioned long-term investment still has to wait for the test of time. At the same time, he expects that in the next two years, with the withdrawal of kg fund family, private funds will do something in the ship financing market.

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