Shiprepair activity improved over 2000/2001, benefiting both emerging and established facilities worldwide. However, competition remains strong, with low cost centres influencing developments in all regions. Pressures to improve profitability remain – particularly among established yards – prompting mergers, re-organisation and significant investments.
Over the near term, a weakening world economy and depressed freight rates are expected to test the resolve of shiprepair industries, intensifying competition and leading to further rationalisation. Pressure to improve maintenance standards and vessel safety is mounting, with the IMO regulations regarding the phase-out of single hull tankers set to have a profound impact on fleet developments and repair demand through to 2015.
The next fifteen years are expected to witness a number of significant changes in shiprepair activity, with ongoing improvements in skills and quality of work offered by emerging nations – particularly in China, the Baltic and East Mediterranean. Established repair centres arc expected to intensify their efforts to secure market share, concentrating on low deviation and specialist markets. Intense competition is expected to encourage greater co-operation between yards over the forecast period, as well as improvements in working practices, efficiency and safety.
This Report – the 5th in-depth shiprepair industry analysis published by OSC – highlights the current/recent developments throughout the industry, and presents detailed forecasts on what is likely to be witnessed over the period to 2015 in the areas of:
Regional Repair Activity & Capacity
Repair Activity by Vessel Type/Size
The Report provides an invaluable independent set of detailed analyses on the future development prospects for all aspects of ship repair and conversion. It is essential reading for all parties with an interest in this sector.
Table of Contents:
SECTION 1 INTRODUCTION & SUMMARY OF METHODOLOGY
Includes an overview of the aims of the Report, together with a summary of the methodology underlying the Report’s analysis.
SECTION 2 WORLD FLEET DEVELOPMENT TO 2015
The level of world-wide shiprepair demand in the forward period will be directly linked to the size and structure of the world merchant fleet. This Section therefore includes extensive analysis of the current, recent and future volume, age structure and size profile of individual vessel types:-
General Cargo Vessels
& Other Vessel Types
The expected changes in the fleet size and composition for all vessel types are analysed, and the implications for shiprepair activity assessed.
SECTION 3 WORLD REPAIR CAPACITY TO 2015
Recent years have witnessed extensive changes in the number and size profile of repair facilities available on a regional basis throughout the world. Attention here is focused on recent developments in this regard, on the current detailed distribution, and the expected developments in terms of new and upgraded facilities in the future.
Attention is focused particularly on those countries where current/recent capacity changes have been witnessed, and where changes are expected within the study period. Particular attention is drawn to the expansion and development of shiprepair capacity in China & Vietnam, and the impact on international and regional markets.
SECTION 4 FACTORS SHAPING WORLD REPAIR DEMAND TO 2015
There is an undeniable linkage between overall repair activity and freight markets. The relation is complex however, and type/size-specific. This Section examines the trends in freight markets for the principal vessel sectors shaping overall shiprepair demand, and analyses the implications for repair yard activity in the forward period. Vessel conversion has become of key significance in the shiprepair sector, and the main trends in this regard are analysed in full.
Vessel trading patterns are a key determinant of regional shiprepair activity. The main areas of vessel loading/discharging for the principal vessel types are analysed, and the likely forward developments in this regard are discussed.
SECTION 5 FORECAST INDUSTRY SUPPLY/DEMAND & TRENDS TO 2015
This Section effectively brings together the preceding analyses to present a detailed set of forecasts on shiprepair activity, dock utilisation, and repair prices throughout the period to 2015.
As well as focusing on the level of repair activity associated with individual vessel types, the Section also includes extensive analysis of the outlook for repair demand from different size sectors of shipping, and the implications for docks of different size capacity.
This Section represents the most extensive and detailed set of shiprepair supply/demand and price forecasts yet published.
SECTION 6 SUMMARY OF CONCLUSIONS & EXECUTIVE SUMMARY
This Section provides a summary of the main conclusions to be drawn from the extensive analyses in this Report – examining and discussing the main implications for:
Regional shiprepair markets
The Report is completed with the provision of an Executive Summary, which represents a collation of the most significant points and conclusions from the Report, presented in the order of the corresponding Sections for ease of reference.
It provides the final part of the most comprehensive and detailed independent appraisal of the world shiprepair and conversion industry ever published.
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