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日本海事新聞ニュース Japan Maritime Daily May 23, 2022 (Mon)

‌【Current of Japanese shipowners】Small size shipowners face the issue of ordering newbuild vessels

　On the morning of May 11, Martin Fruergaard, CEO (Chief Executive Officer) of Pacific Basin Shippin ・・・続きはログインして下さいnext %E3%80%80On+the+morning+of+May+11%2C+Martin+Fruergaard%2C+CEO+%28Chief+Executive+Officer%29+of+Pacific+Basin+Shipping+%28PB%29%2C+a+major+dry+bulk+operator+in+Hong+Kong%2C+was+interviewed+at+an+office+in+the+city+center.+%3Cbr%3E%E3%80%80%E2%96%A0+PB+strategy+%3Cbr%3E%E3%80%80Speaking+of+PB%E2%80%99s+strategy%2C+it+%E2%80%9Ccontinues+to+invest+a+certain+amount+in+its+own+vessels+even+when+market+conditions+are+sluggish.%E2%80%9C+This+thorough+policy+has+won+the+trust+of+Japanese+shipowners.+%3Cbr%3E%E3%80%80In+fact%2C+%E2%80%9CWe+got+12+secondhand+vessels+last+year+as+well.+Competitive+vessels+are+the+source+of+our+profitability%2C+%E2%80%9Csaid+Fruergaard.+%3Cbr%3E%E3%80%80However%2C+even+PB+has+to+be+cautious+about+investing+in+secondhand+vessels+and+building+new+ships+in+the+current+soaring+ship+price+market.+Japanese+ship+owners+are+also+paying+attention+to+the+business+strategy+of+PB%2C+which+has+a+total+of+250+vessels%2C+including+121+owned+vessels+and+time+charter+vessels+from+shipowners.+%3Cbr%3E%E3%80%80A+shipowner+who+read+the+interview+article+speaks.+%3Cbr%3E%E3%80%80%E2%80%9CEven+if+a+ship+ordered+at+the+current+new+shipbuilding+price+is+brought+to+overseas+operators+%28operating+shipping+companies%29%2C+it+is+natural+a+mismatch+occurs+in+both+the+charter+period+and+the+charter+fee.+Then+what+should+we+do%3F+I+think+we+have+no+choice+but+to+propose+a+highly+competitive+new+ship%2C+which+we+order+after+increasing+our+own+funds.%E2%80%9C+%28Imabari+Shipowner%29+%3Cbr%3E%E3%80%80Japanese+shipowners+are+currently+taking+advantage+of+the+depreciation+of+the+yen%2C+and+their+cash+positions+are+plentiful.+There+seems+to+be+no+blind+spot+in+the+business+operations+of+Japanese+shipowners+at+this+moment.+However%2C+from+the+perspective+of+investing+in+new+ships%2C+the+situation+changes+completely.+%3Cbr%3E%E3%80%80No+matter+how+abundant+the+cash+position+is%2C+it+cannot+keep+up+with+the+soaring+new+shipbuilding+prices.+Even+if+you+order+a+new+ship%2C+it+is+as+pointed+out+by+the+shipowner+that+there+will+be+a+mismatch+with+the+charter+fee+offered+by+the+operator.+%3Cbr%3E%E3%80%80%E2%96%A0+Risk+of+shipowner+polarization+%3Cbr%3E%E3%80%80What+is+clear+in+this+situation+is+the+difference+in+ordering+stance+between+major+ship+owners+and+medium-scale+shipowners.+%3Cbr%3E%E3%80%80In+the+shipping+and+shipbuilding+industry%2C+ordering+a+new+ship+without+a+charter+destination+is+commonly+referred+to+as+%E2%80%9Ctempura+ordering.%E2%80%9C+In+general%2C+medium-scale+and+smaller+shipowners+either+order+a+new+ship+once+they+have+a+clear+idea+of+the+operator+who+charters+the+ship+or+accept+drop+vessels+from+the+shipyard.+%3Cbr%3E%E3%80%80However%2C+many+medium-scale+shipowners+are+currently+stuck+in+the+face+of+soaring+new+shipbuilding+prices.+%3Cbr%3E%E3%80%80On+the+other+hand%2C+it+is+said+that+orders+for+new+ships+whose+allocation+destination+is+undecided+are+progressing+mainly+for+some+major+ship+owners.+%3Cbr%3E%E3%80%80A+trading+company+official+speaks.+%3Cbr%3E%E3%80%80%E2%80%9CFor+major+shipowners%2C+abundant+cash+positions+allow+them+to+invest+a+lot+of+their+own+money+into+new+ships.+It+is+not+40-50%25+like+Greek+shipowners%2C+but+there+are+major+shipowners+who+invest+20%25+of+their+own+funds+instead+of+the+usual+10%25+to+make+new+ships+competitive.%E2%80%9C+%28Ship+Department%29+%3Cbr%3E%E3%80%80For+financial+institutions%2C+when+lending+to+a+major+shipowner+who+develops+a+new+ship%2C+future+competitiveness+is+guaranteed+if+the+ship+is+funded+with+a+large+amount+of+its+own+funds+even+if+the+ship+allocation+destination+is+undecided.+%3Cbr%3E%E3%80%80Large+ship+owners+are+placing+orders+even+at+high+ship+prices%2C+and+medium-scale+and+smaller+ship+owners+are+stuck.+%3Cbr%3E%E3%80%80The+polarization+of+the+current+shipowners+is+progressing+in+this+way.+%3Cbr%3E%E3%80%80The+problem+is+that+some+of+the+new+ships+of+major+shipowners+whose+allocation+destinations+are+undecided+may+not+necessarily+be+well-funded+with+their+own+funds.+%3Cbr%3E%E3%80%80A+Japanese+regional+bank+official+speaks.+%3Cbr%3E%E3%80%80%E2%80%9CIn+the+case+of+major+ship+owners%2C+some+companies+decide+that+instead+of+investing+30%25+of+their+own+funds+in+one+ship+for+a+new+ship+whose+allocation+destination+is+undecided%2C+they+will+make+a+diversified+investment+of+15%25+in+each+of+the+two+ships.+In+the+case+of+a+new+ship+whose+allocation+destination+is+undecided%2C+the+more+company%E2%80%99s+own+funds+are+invested%2C+the+easier+it+is+to+pass+the+examination+for+financing.+That+is+for+sure.+But+it+is+also+possible+to+lend+to+a+major+ship+owner+with+diversified+investment.%E2%80%9C+%28Ship+loan+officer%29+%3Cbr%3E%E3%80%80What+does+it+mean%3F+%3Cbr%3E%E3%80%80In+the+case+of+major+ship+owners%2C+profits+and+asset+value+of+ships+have+expanded+due+to+the+recent+depreciation+of+the+yen.+Like+the+shipping+majors%2C+they+are+considered+%E2%80%9Cblue+chip+companies.%E2%80%9C+%3Cbr%3E%E3%80%80In+that+case%2C+even+if+a+new+ship%E2%80%99s+allocation+destination+is+undecided+and+the+construction+cost+is+soaring%2C+financial+institutions+will+be+able+to+provide+loans+to+major+ship+owners+with+corporate+credit.+%3Cbr%3E%E3%80%80A+shipping+broker+explains.+%3Cbr%3E%E3%80%80%E2%80%9CThe+medium-scale+shipowners+are+forced+to+remain+silent.+On+the+other+hand%2C+some+major+shipowners+can+order+new+ships%2C+which+are+generally+expected+to+be+stable+in+the+future+if+they+are+generously+funded%2C+even+if+their+own+funds+are+limited+to+about+10%25.+It+can%E2%80%99t+be+helped+that+financial+institutions+estimate+the+credit+of+major+shipowners+high.+However%2C+the+reality+is+that+no+one+can+predict+the+future+risk+of+new+ships+ordered+while+allocation+destinations+are+undecided.%E2%80%9C+%28Broker+in+Tokyo%29+%3Cbr%3E%E3%80%80%28Japanese+ship+owners+coverage+group%29+%3Cbr%3E%E3%80%80%3D+Posted+every+Monday+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E