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Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three years. Shipping companies have recently ended their decade-long game of chicken which raised deficits, pressuring many companies to close shop and forcing major restructuring and M&As.
Recently, the industry saw a major boom as the COVID-19 pandemic increased demand for global shipping, but some industry watchers point out that once the virus situation ends the shipping companies could engage in another price war.
Maersk holds the largest market share with 16.9 percent followed by MSC Mediterranean Shipping Company with 15.9 percent, COSCO with 12.3 percent and CMA with 12.3 percent. Meanwhile, Korea’s leading transportation and shipping company HMM ― formerly Hyundai Merchant Marine ― is in eighth with 3.1 percent.
Many shipping companies are keeping a close eye on the top two companies Maersk and MSC to sense if they are planning to engage in another price war in the coming years.
For the last decade, Maersk and MSC teamed up to create the so-called “2M” alliance, upgrading to larger vessels to increase freight capacity, leading the global shipping price war.
“Global powerhouses have been busy operating and constructing large vessels that are capable of loading two to three times that of previous ships, while the new engine speed is slower but sturdier and utilizes less fuel. So they are able to cut costs in key areas and lower prices more than other competitors that do not operate newly built large container ships,” an HMM official said.
For the past decade many shipping companies have been forced to adapt to the prices or conduct major restructuring to have a hope of competing. Hanjin Shipping which was once the world’s seventh-largest container shipper was forced to declare bankruptcy in early 2017, failing to raise money and restructure its debt. Three Japanese shipping companies also merged to establish Ocean Network Express (ONE) while others went through major restructuring or acquisitions.
However, some industry experts say a price war may not occur as Maersk has been heavily investing to transition into an all-in-one integrated logistics company expanding into services that provides land-based shipments from factories and customs services as well as warehousing rather than just operating international container shipments.
“Maersk has been heavily investing in its land-based services and they will need all the money they can acquire,” an industry official said. “So it is unlikely they will lower shipping costs and restart a price war.”
With the support of the Korean government HMM has the construction of 12 13,000-twenty-foot equivalent unit (TEU) ships in the works and aims to increase the company’s capacity to 1.12 million TEU by 2025. However, it still is not sufficient to compete with other top players in the industry, which continue to invest heavily in building larger vessels.
According to Alphaliner’s May 19 report, Maersk holds the global top rank with 4.11 million TEU followed by MSC with 3.95 million TEU, CMA with 3.03 million TEU and COSCO with 2.99 million TEU, while HMM is in eighth place with 798,000 TEU.
Source: The Korea Times
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Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
Monday, 09 August 21
CHINA COAL INVENTORY THINS AMID PEAK POWER DEMAND- STATE MEDIA : REUTERS
China’s coal inventories have dropped to near historic lows since August due to peak summer electricity demand and transportation bottlenecks ...
Wednesday, 04 August 21
THE INDONESIAN COAL PRICE REFERENCE SURGED TO A FRESH RECORD HIGH OF USD 130.99 A TON IN AUGUST 2021
COALspot.com: The Indonesian Coal Price Reference ( HBA) surged to a fresh record high of USD 130.99 a ton in August 2021.
The ...
Wednesday, 04 August 21
MARKET INSIGHT - INTERMODAL
Unlike the Dry Bulk and Container sectors where freight rates have surged into 2021, the tankers market continues to experience lackluster earnings ...
Sunday, 01 August 21
SEABORNE HARD COAL TRADE IN 2020 DECREASED BY 149 MILLION MT, OR 12.1%, TO 1,083 MILLION MT - GERMAN COAL IMPORTERS ASSOCIATION
- Reduced coal-fired power plant fleet secures Germany’s power supply in severe winter of 2020/2021; little wind availability and hence stron ...
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- Iligan Light & Power Inc, Philippines
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- Anglo American - United Kingdom
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- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
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- Thai Mozambique Logistica
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- Salva Resources Pvt Ltd - India
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- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Minerals Council of Australia
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- Australian Coal Association
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
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- Central Electricity Authority - India
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- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
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- European Bulk Services B.V. - Netherlands
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- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
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- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Meenaskhi Energy Private Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
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- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
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- Siam City Cement - Thailand
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- Metalloyd Limited - United Kingdom
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- Medco Energi Mining Internasional
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- Ministry of Finance - Indonesia
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- Planning Commission, India
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- Karbindo Abesyapradhi - Indoneisa
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- New Zealand Coal & Carbon
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- Marubeni Corporation - India
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- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
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- Intertek Mineral Services - Indonesia
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- Malabar Cements Ltd - India
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- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
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- Africa Commodities Group - South Africa
- Economic Council, Georgia
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- Manunggal Multi Energi - Indonesia
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- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Romanian Commodities Exchange
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- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
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- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
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- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
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