subject: The World Ship Repair Market To 2015 --- Aarkstore Enterprise [print this page] 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:
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Shiprepair Demand
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Dock Capacity
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Dock Utilisation
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Regional Repair Activity & Capacity
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Repair Prices
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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.
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:-
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Tankers
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Bulk Carriers
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Containerships
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General Cargo Vessels
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Gas Carriers
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Passenger Vessels
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& 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:
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Ship-owners
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Shipyards
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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.
Table of Contents :
Section 1 INTRODUCTION & SUMMARY OF METHODOLOGY 1-2
1.1 Introduction 1
1.2 Methodology 2
Section 2 WORLD DEVELOPMENT TO 2015 3-66
2.1 Introduction 3
2.2 Total World Merchant Fleet Developments 1981/2001 3
World Fleet Age Profile 8
Scrapping Developments 10
Vessel Sectors 10
2.3 Tanker Fleet Development to 2015 12
2.4 Bulk/Combination Carrier Fleet Development to 2001 25
2.5 Gas Carrier Fleet Development to 2015 31
2.6 Container Ship Fleet Development to 2015 38
2.7 General Cargo/Multi-Purpose Vessel Fleet Development to 2015 45
2.8 Chemical Carrier Fleet Development to 2015 48
2.9 Cruise Vessel Fleet Development to 2015 52
2.1 Reefer Vessel Fleet Development to 2015 56
2.11 Offshore Vessel Fleet Development to 2015 58
2.12 Fishing Vessel Fleet Developments to 2015 60
2.13 Ro-Ro Vessel Fleet Development to 2015 60
2.14 Other Vessels Fleet Development to 2015 62
2.15 Total World Fleet Development to 2015 64
Section 3 WORLD SHIP REPAIR MARKET TO 2015 67-128
3.1 Introduction 67
3.2 World Shiprepair Capacity Development 67
3.3 North Europe 72
United Kingdom 73
Scandinavia 75
Norway 75
Sweden 75
Holland 76
Belgium 76
France 76
Baltic 76
Estonia 77
Lithuania 77
Latvia 78
Germany 78
North European Shiprepair Dock Capacity Developments to 2015 78
3.4 South Europe 80
3.4.1 Mediterranean 82
Portugal 82
Spain 83
France (South) 84
Italy 84
Malta 84
Croatia 84
Greece 85
Bulgaria 85
Yugoslavia 86
Romania 86
Turkey 86
Ukraine 86
South European Shiprepair Dock Capacity Developments to 2015 87
3.5 Middle East 88
Dubai 88
Bahrain 89
Other Middle East 89
Middle East Shiprepair Dock Capacity Developments to 2015 90
3.6 South and South-East Asia 91
Singapore 92
Indonesia 94
Malaysia 95
Philippines 95
India 96
Sri Lanka 96
Thailand 97
Vietnam 97
South & South-East Asian Shiprepair Dock Capacity Developments to 2015 98
3.7 East Asia 98
China 99
South Korea 103
Japan 103
Taiwan 105
East Asian Shiprepair Dock Capacity Development to 2015 106
3.8 Australasia 108
Australia 108
New Zealand 108
Australasian Shiprepair Dock Capacity Development to 2015 109
3.9 Africa 109
Egypt 110
South Africa 110
Ghana 111
Other Africa 112
African Shiprepair Dock Capacity Development to 2015 112
3.1 North America 113
USA 113
Major US Repair Yards 113
US Pacific 117
Canada 117
North American Shiprepair Dock Capacity Development to 2015 118
3.11 Central & South America 120
Caribbean/Central America 120
South America Atlantic 122
South America Pacific 123
C/S American Shiprepair Dock Capacity Development to 2015 123
3.12 World Shiprepair Dock Capacity Development to 2015 125
Section 4 FACTORS SHAPING WORLD REPAIR DEMAND TO 2015 129-166
4.1 Introduction 129
4.2 Vessel Employment 130
4.2.1 Regional Analysis
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Asia (excluding Japan) 132
Japan 134
North America 136
North Europe 139
South Europe 140
Middle East 140
4.2.2 Vessel Employment by Size Sector
4.3 Freight Market Developments & Implications for
4.3.1 Tanker Freight Market Developments
4.3.2 Bulk Carrier Freight Market Developments
4.3.3 Gas Carrier freight Market Developments
4.3.4 Containership Freight Market Developments
4.3.5 Multi-purpose Freight Market Developments
4.4 Aggregate Freight Index, 1986-2002 163
4.5 Vessel Conversion 165
Section 5 FORECAST INDUSTRY SUPPLY/DEMAND & TRENDS TO 2010 167-190
5.1 Introduction 167
5.2 Ship Repair Developments to 2015 167
5.2.1 Future development by Vessel Type 167
5.2.2 Key Developments in Sector Age profiles to 2015 176
5.2.3 Future Ship Repair Development by Vessel Size 177
5.3 Actual Repair Activity Developments to 2015 181
5.4 Forecast Dock Utilisation 184
5.5 Shiprepair Price Developments to 2015 188
Section 6 SUMMARY OF CONCLUSIONS & EXECUTIVE SUMMARY 191-204
6.1 Regional Market Development 191
6.2 Market Implications 197
6.2.1 Implications for Ship Repair Yards 197
6.2.2 Implications for Shipowners 199
6.3 Section Summaries 200
Section 2: World Fleet Development & Repair Demand to 2015 200
Section 3: World repair Capacity 200
Section 4: Factors Shaping World Repair Demand to 2015 202
Section 5: Forecast Industry Supply/Demand & Trends to 2015 203
CONTENTS - TABLES
Table 2.2.1 World Cargo Carrying Fleet Profile, 2001 4
Table 2.2.2 Average Fleet Growth 1997-2001 4
Table 2.2.3 World Merchant Fleet development 1981/ 2001 5
Table 2.3.1 Tanker Fleet Age Distribution 1980-2001 14
