Wednesday, October 17, 2012

Marine coatings manufacturers meet depression of shipbuilding industry

After the rapid development for years, China's shipbuilding industry faces difficulties in 2012 with a large scale of bankruptcy. As to marine coating manufacturers, series products and competitive price may help them to occupy more market shares after the shipbuilding industry comes out of depression, ,according to CCMs September issue of TiO2 China Monthly Report.

It is reported that at the end of 2011, the biggest shipbuilding company in Ningbo City, Zhejiang Province, Hengfu Shipbuilding Group declared bankruptcy. In Feb. 2012, Chongqing Kinlong Shipbuilding Co., Ltd. followed the step of Hengfu Shipbuilding Group. In March 2012, Jiangsu Nantong Huigang Shipbuilding Industry also went into bankruptcy. Shortly afterwards, Zhejiang Jingang Shipbuilding Co., Ltd. applied for bankruptcy protection.

At the same time, China CSSC Holdings Limited (CSSC) and Guangzhou Shipyard International Co., Ltd. (GSI), two big shipbuilding companies announced their semi-annual reports of H1 2012. As reported, the revenue and operating profit margin from shipbuilding business in both of the two companies decline dramatically compared with that in H1 2011. It can be observed that the shipbuilding industry encounters challenge of overcapacity. In order to gain more orders, the competition between shipbuilding companies becomes more and more fierce.

Source: TiO2 China Monthly Report 1209

Content of TiO2 China Monthly Report 1209:
China's TiO2 export and import situation in June 2012 2
Sichuan Lomon got a loan of USD118.7 million for rutile project 6
DuPont gains more profit from TiO2 and coatings in H1 2012 8
China's TiO2 producers export more TiO2 in H1 2012 10
China's TiO2 annual conference held in Shandong in July 2012 12
Henan Billions' profit decline 34.5% in H1 2012 13
Huntsman, Tornox and Kronos's financial performance in H1 2012 16
Titanium feedstock import situation in China in June 2012 18
Rio Tino's development in titanium feedstock 20
Titanium feedstock suppliers get an increasing sales of titanium feedstock in H1 2012 21
AkzoNobel and PPG see stable sales revenue growth but net profit decrease in H1 2012 22
The output of plastic products grows 7.7% lower than expectation in H1 2012 24
TiO2 prices decrease in China in Aug. 2012 27
Outline of vanadium and titanium industry development plan 28

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