Bottom-out rebound may be expected, marine compressor opportunities are still available
Release Date: 2017-09-04 Source: China Compressor Network View: 20283
Core Tip: The development of the manufacturing industry is stable, but the shipbuilding industry continues to go down at the end of July this year, only seven years of output value of more than 10 billion yuan of Dayang Shipbuilding announced bankruptcy and liquidation, another shipbuilding manufacturing company closed down. Shipbuilding industry 80 enterprises main business income fell 11; total profits fell 49, the domestic shipbuilding industry can be described as being in the winter. However, the domestic manufacturing industry is another scene, the National Bureau of Statistics, China Federation of Logistics and Purchasing July 31 jointly released data show that in July, China's manufacturing purchasing managers index of 51.4. Experts analyze that the manufacturing PMI, although compared with the previous month downward slight fluctuations
Manufacturing development is stable, but shipbuilding industry continues to decline
At the end of July this year, only seven years of output value of more than 10 billion yuan of Dayang Shipbuilding announced bankruptcy and liquidation, another shipbuilding manufacturing company closed down. Shipbuilding industry 80 enterprises main business income fell 11% year-on-year; total profits fell 49% year-on-year, the domestic shipbuilding industry can be said to be in the winter.
However, the domestic manufacturing industry is another scene, the National Bureau of Statistics, China Federation of Logistics and Purchasing July 31 jointly released data show that in July, China's manufacturing purchasing managers index of 51.4%. Experts analyze that the manufacturing PMI fluctuated slightly downward by 0.3 percentage points compared to last month, but basically the same as the average value in the first half of the year, and stayed above 51% for 10 consecutive months, showing that the overall trend of the manufacturing industry is stable.
Manufacturing all the way up, positioned in the high-end manufacturing shipbuilding industry is not good. China Shipbuilding Industry Association released the first half of China's shipbuilding industry economic operation shows that throughout the first half of the year, the acceptance of new ship orders 11.51 million deadweight tons, down 29% year-on-year, the new orders for 13 consecutive months is less than the actual amount of completion; the end of June, the hand-held ship orders of 82.84 million deadweight tons, a year-on-year drop of 30.5%, a decline of 16.8% from the end of 2016.
High-end manufacturing industry, with its competitive advantages of high technology, high value-added, low pollution and low emissions, has always been the benchmark of a country's industrialization level. While the domestic manufacturing industry is developing steadily and the industrial growth rate is picking up and accelerating, the domestic shipbuilding industry is walking downward, mainly because the shipbuilding industry is at the bottom of the cyclical range and the shipbuilding industry has been out of overcapacity for a longer period of time, coupled with capital constraints and other reasons, which has led to the development of the shipbuilding industry to deviate from the general development trend of the domestic manufacturing industry.
In the past two years, the shipbuilding industry's bankruptcy and reorganization, to a certain extent, with the shipbuilding industry closely linked to the marine compressor products market. Compressor in the ship on a very wide range of applications, for example, marine blowing compressor, used to provide ships with oxygen and nitrogen, marine cleaning devices and pneumatic control need to use air compressors. In addition, compressors are also indispensable in the manufacturing process. Ships in the production need to use a lot of pneumatic tools, such as air hammer, air grinder are shipbuilding must use tools. Air compressors are also indispensable in ship painting.
Air compressors play an important role in shipbuilding and operation, therefore, the downturn in the shipbuilding industry, to a certain extent, also affects part of the supply of marine compressor companies.
However, the relevant compressor companies should not be overly discouraged, the current shipbuilding industry is in a cycle of the trough stage, and is also facing corporate restructuring, it is likely to bottom out soon. From the current shipbuilding industry to take relevant measures as well as the future; Belt and Road favorable driving point of view, the shipbuilding industry's winter will eventually pass, the marine compressor will usher in the spring.
Shipbuilding industry mergers and acquisitions to resolve overcapacity and improve industry concentration
In the face of the deep adjustment of the international shipping market, supply-side reform is an important task in the 13th Five-Year Plan period, one aspect of the reform is to adjust the structure of the industry, through mergers and acquisitions to achieve the purpose of production capacity, improve industrial concentration. The reorganization and development of the shipbuilding industry also has a successful case, Daship Heavy Industries merged with Dalian Dayang Ship, so that the LNG ship and military and other special ship construction capacity to increase. CIMC Anrico acquired 30% of the shares of Nantong Pacific Offshore Engineering to promote the expansion of LNG equipment manufacturing business from land to sea. It can be seen that through mergers and acquisitions can not only dissolve excess capacity, but also expand the scale of enterprises, which is conducive to enhancing industrial concentration and improving risk resistance.
In 2015, nine ministries and commissions jointly issued the “Guiding Opinions on Financial Support for Structural Adjustment and Promotion of Transformation and Upgrading of the Shipbuilding Industry”, and the Ministry of Industry and Information Technology issued a list of enterprises in the “Shipbuilding Industry Specification Conditions”. Through financial policies and industry;s white list system, the government guides social resources to tilt towards high-quality enterprises, squeezes the survival space of backward enterprises, and changes the situation of overcapacity in the shipbuilding industry.
After mergers and acquisitions and reorganization, the shipbuilding industry is more concentrated, high-end shipbuilding technology to enhance the industry's ability to improve competition, the opportunity to expand the market size increases, with the supporting marine compressor market size will naturally expand.
Shipbuilding industry to adjust the product structure, to the high technology and high value-added ship type into
Shipbuilding industry belongs to the high-end manufacturing sector, high technical requirements, high value-added, supply-side reform, the product structure is not reasonable. Supply-side reform can change this situation, reduce the proportion of low value-added ship types such as bulk carriers, and increase the proportion of high value-added ship types such as LNG ships.Since 2015, China's competitive bulk carriers and other conventional ship types have been weak in demand, and the market share has plummeted from about 55% in 2014 to about 15%, and has been consistently low for two consecutive years this year. At present, the incremental ship market mainly comes from the technically complex type of ship, shipbuilding enterprises high-tech ship research and development capabilities, research and development of products to adapt to rapid changes in the market need to be improved.
In 2015, the State Council issued “Made in China 2025”, high-tech ships is one of the ten key areas of development, and at the same time proposed to focus on the development of high-tech high value-added ships and super energy-saving and environmentally friendly ships. Independent research and development capability is the real entry point to break through the unreasonable ship structure, accelerate industrial technology upgrading, and realize the high-end product structure, so as to improve the competitiveness in the international market. In the context of the continuous downturn in the ship market, the ship manufacturing industry is still highly competitive, and technology has become an important factor in the upward mobility of the shipbuilding industry.
With the shipbuilding industry technology and the promotion of environmentally friendly ships, with the supporting compressor also need to develop new energy-saving, environmentally friendly products to meet the needs of the shipbuilding industry. In the shipbuilding industry technology has been improved under the premise of marine compressor technology, if still stagnant, it is easy to be eliminated by the market.
; One Belt and One Road strategy to promote in-depth, change the market demand for ships
According to the China Shipbuilding Industry Association led the preparation of the shipbuilding industry ;13th Five-Year Development Plan for the preliminary draft of the preliminary research work, it is expected that in the next five years, the market demand in the shipbuilding industry will have a 30% increase. Domestic demand will mainly come from the maritime, marine police, ocean, salvage and other official ships, with the development of the situation in China's maritime areas, multiple departments are constantly accelerating the speed of administrative law enforcement ship construction program, which gives the domestic level of official shipbuilding put forward higher requirements.In 2015, the National Development and Reform Commission jointly issued the “Promoting the construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road Vision and Action", which did not directly mention the shipbuilding industry, but through the shipbuilding industry to realize the transportation trade investment in other industries, is forcing the domestic shipbuilding industry; go out, the development of the shipbuilding industry is facing a big opportunity.
At present, China's shipbuilding industry is in the industry reshuffle stage, a series of restructuring measures and policy support, will certainly make the shipbuilding industry to the direction of greater and stronger development. With the advancement of the Belt and Road, the spread of the Maritime Silk Road is inevitably inseparable from the ship, the demand for ships will also increase accordingly, the marine compressor market demand will grow rapidly.
Throughout the ship industry, showing a decline in the bottom of the cycle-type situation, when this cycle past, after mergers and acquisitions and intelligent transformation and upgrading of the shipbuilding industry will bottom out, the marine compressor market will usher in a new prospect for development.