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China's ship repair market will maintain stable development in 2009

  • Categories:Industry News
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  • Time of issue:2009-03-07
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(Summary description)2008 was an extraordinary year. The unprecedented financial tsunami intensified. The global economy is sinking deeper and deeper. The United States, Europe, and Japan have faded from the glitz of the past. The prosperity of emerging economies has fallen from its peak, dragging down the shipping market and shipbuilding market. The prosperous market for nearly 6 years came to an end this year.

China's ship repair market will maintain stable development in 2009

(Summary description)2008 was an extraordinary year. The unprecedented financial tsunami intensified. The global economy is sinking deeper and deeper. The United States, Europe, and Japan have faded from the glitz of the past. The prosperity of emerging economies has fallen from its peak, dragging down the shipping market and shipbuilding market. The prosperous market for nearly 6 years came to an end this year.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2009-03-07
  • Views:0

       2008 was an extraordinary year. The unprecedented financial tsunami intensified. The global economy is sinking deeper and deeper. The United States, Europe, and Japan have faded from the glitz of the past. The prosperity of emerging economies has fallen from its peak, dragging down the shipping market and shipbuilding market. The prosperous market for nearly 6 years came to an end this year.

       As the development cycle of the ship repair industry lags behind that of the transportation and shipbuilding industries, the ship repair market continued to maintain a healthy development momentum in 2008. The transformation of some large repair companies to the shipbuilding industry has exacerbated the shortage of global ship repair resources. Shipbuilding companies are generally experiencing shortage of docks and insufficient berths. Many shipping companies had to wait in line for ship repairs, and "a dock is hard to find" became the main tone of the ship repair market last year.

       The strong demand has promoted the rapid development of the industry and the expansion of scale. China's ship repair industry is entering the ranks of the world's ship repairing powers. This is reflected in the large-scale ship repairs, the continued expansion of foreign ship repairs, and the ability to undertake batches of high value-added converted ships. Capacity, the total volume of ship repair production continued to increase substantially, and the benefits continued to improve. In 2009, can the ship repair market survive the impact of the financial tsunami, and what opportunities and challenges will the ship repair market face?

       Challenge 1: The demand for repairs and refitting has fallen sharply in the short term. The free fall of the BDI index and the continuous decline in the price of second-hand ships have caused the highly prosperous tanker refitting market to show signs of fatigue. New refitting demand has stalled, some refitting orders have been cancelled, and some orders in hand cannot be executed smoothly. Turn from hot to hot potato. At the same time, with the acceleration of the elimination of old ships, the increase in suspending capacity, and the measures of ship owners to reduce factory repairs and expand self-repair, the conventional repair market has shrunk sharply.

       Challenge 2: The number of ship repair docks continues to show rapid growth. Not only are old-brand ship repairing companies actively expanding their production capacity, but some building and repairing companies and shipping companies have also rushed to share the Chinese market. The 100,000-ton ship repair dock under construction and planning has a capacity of 2.83 million tons, accounting for 34% of the current dock capacity. Although the planned ship repair capacity may not be fully implemented this year due to the financial crisis, it should not be overlooked that the future world repair capacity will be adjusted in an orderly manner according to changes in market supply and demand, and some shipbuilding capacity may be converted to ship repair. This dynamic The conversion mechanism will further increase the production capacity of ship repairs. The rapid expansion of ship repair production capacity and the sharp shrinkage of ship repair demand have caused a short-term reversal of the supply-demand relationship of ship repairs. At present, some domestic shipyards have seen empty docks one after another, and the "shipyard market" has returned to the "shipowner market", which has triggered unprecedented competition in ship repair prices. Intense, the price level that soared last year quickly fell back from the fourth quarter.

       At the same time, the ship repair market is also facing huge opportunities. Although the depth and breadth of the impact of the financial crisis on world economic entities is still uncertain, in the medium and long term, the process of economic globalization has not been reversed, and the fundamentals of the Chinese economy have not changed. The world economy will gradually improve with the joint efforts of all countries. After the cold winter is a warm spring, we should maintain confidence in the long-term development prospects of the ship repair industry.

       Looking forward to 2009, as the world fleet is increasing year by year, regular repairs and maintenance will lay a good foundation for the long-term and stable development of the ship repair industry; a series of new international shipbuilding rules and regulations have been promulgated one after another. Increasing attention to safety and environmental protection will also stimulate the increase in demand for ship repairs to a certain extent; the warming of offshore oil development will drive the offshore engineering repair and modification market to a better tomorrow.

       China's ship repair has already occupied an important position in the world ship repair arena, and the trend of the world's ship repair center moving eastward has shown the huge opportunities of the ship repair industry in front of China's ship repair industry. However, in the fierce market competition environment, how to break through technology Bottleneck constraints such as innovation, how to avoid various risks, and how to seize opportunities have become issues of vital importance to the development of ship repair companies.

       The author suggests that first, Chinese ship repairing companies should unite and gradually establish the long-term "four major prevention mechanisms": industry early warning mechanism, information resource sharing mechanism, coordination mechanism, and enterprise-association contact mechanism. Through extensive strengthening of exchanges and cooperation, we will maintain a fair, open and just industry operating order, form a consistent external competition mechanism, and jointly respond to the challenges brought about by the financial crisis.

       Second, China’s ship repair industry must not only make full use of various favorable conditions to promote development, and continuously deepen the reform of the ship repair enterprise management system, through strategic planning, optimize and integrate its own internal resources, cultivate internal skills, and improve corporate management. We must focus on improving the quality and efficiency of growth and take the path of comprehensive, coordinated and sustainable development. Through fine management, strengthen the awareness of energy saving and emission reduction, increase the improvement of high energy consumption and high pollution processes and equipment, improve the research and development and application of new processes, new equipment and new technologies, and realize as soon as possible from relying on cheap labor to achieve quantitative expansion. The growth shift relies more on technological progress to promote development with improved efficiency and strive to achieve transformation and upgrading.

       The third is to strive to improve the level of my country's special ship repair and modification coating engineering, accelerate the improvement of independent innovation capabilities and advanced ship repair capabilities, learn from the mature experience of traditional marine engineering modification shipyards such as Singapore, continue to absorb outstanding professional design talents, and focus on the formation of core technical capabilities , To rapidly narrow the gap with advanced foreign ship repair companies, strive to improve the comprehensive competitiveness of the company, increase market share, cultivate and develop new economic growth points for China's ship repair industry, and promote a new leap in the ship repair industry.

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