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Ship distribution market in 2019
2020-01-23 10:01

In 2019, affected by the slowdown in international economic growth, trade frictions, and geopolitics, global orders for new ships have fallen sharply, and the ship supporting industry continues to face difficulties in receiving orders and making profits. However, under the influence of relevant maritime rules and regulations, the performance of energy-saving and environmental protection equipment is eye-catching, and market orders have increased significantly. The ship supporting market mainly presents the following characteristics.

1. The shipbuilding market continues to be sluggish, and supporting enterprises have rebounded from low operating levels

In 2019, due to the impact of global trade, geopolitics and the implementation of the 2020 sulfur limit order, shipowners were relatively cautious in investing, and global new ship transactions fell by more than 30% compared with 2018. Affected by this, although some supporting enterprises have increased their income, new orders and profits have declined to a certain extent. In the first three quarters of 2019, new orders for Wärtsilä’s ship ancillary business decreased by 12%, sales revenue increased by 16%, and operating profit decreased by 23%; HSD engine sales revenue increased by 10%, and new orders received a year-on-year decrease of 24%, but operating profit The loss has been reduced, and the third quarter realized a turnaround. As MacGregor included TTS in the report, new orders increased by 10%, sales revenue increased by 12%, operating profit turned from profit to loss, and a substantial loss of 23.4 million euros.

Domestically, due to the low base in the same period last year, shipping companies as a whole showed a certain degree of growth. According to statistics from the China Shipbuilding Industry Association, from January to November 2019, ship supporting enterprises above designated size achieved a revenue of 26.3 billion yuan from their main businesses, a year-on-year increase of 3.5%, but they are still at a relatively low level in recent years.

2. With the integration and reorganization of supporting enterprises, the competitive landscape will face tremendous changes

The downturn in the shipping market has caused the continued deterioration of the operations of most supporting companies. In order to streamline their businesses and integrate resources, some companies have begun to acquire or sell traditional supporting businesses. Among them, there are many giant companies in various sectors, including Luo Luo, Kongsberg, MacGregor , MAN ES, etc. have actions. In 2019, Kongsberg Group completed the acquisition of Luo & Luo Commercial Ships and became one of the strongest companies in the field of smart ships in the world; MacGregor completed the acquisition of TTS marine and offshore supporting businesses, consolidating the world’s largest supply of electromechanical equipment Volkswagen Group plans to sell MAN ES in order to streamline its business. Three companies including Cummins, Mitsubishi Heavy Industries and Innio have already quoted prices between 1.5 and 2 billion euros. It is expected that there will be preliminary results in February 2020. Mergers and reorganizations among leading companies in the industry have caused tremendous changes in the competition situation in the entire industry.