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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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Wednesday, 16 June 21
MARKET INSIGHT - INTERMODAL
“While approaching the second half of the year and summer season is just around the corner, COVID vaccination programs are steadily moving fo ...
Monday, 14 June 21
'WISHFUL THINKING': WHY CHINA NEEDS AUSTRALIAN IRON ORE FOR 'MANY YEARS' TO COME - YAHOO FINANCE AU
A “wintry period”.
That’s what’s expected to happen to Australia’s economy “when” China st ...
Sunday, 13 June 21
COAL AND LNG’S SURGE IN ASIA PLAYS INTO RENEWABLE ENERGY HANDS - REUTERS
Liquefied natural gas (LNG) and thermal coal prices in Asia have been roaring ahead in recent months amid strong demand, but while welcome news for ...
Friday, 11 June 21
5 REASONS GLOBAL SHIPPING COSTS WILL CONTINUE TO RISE - ING
No short-term relief
Shipping costs have been growing strongly since the autumn of 2020, but the first months of this year have seen a new surg ...
Friday, 11 June 21
ASIA COAL PRICES SURGE, BUT CHINA-AUSTRALIA DISPUTE MEANS RALLY IS UNEVEN - REUTERS
Thermal coal prices across Asia have surged to multi-year highs amid strong demand and some supply constraints, but some types of the fuel have don ...
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- Edison Trading Spa - Italy
- The University of Queensland
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- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
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- Dalmia Cement Bharat India
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- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
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- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
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- Singapore Mercantile Exchange
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- India Bulls Power Limited - India
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- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
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- Parliament of New Zealand
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- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
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- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
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- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
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- Mintek Dendrill Indonesia
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
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- Larsen & Toubro Limited - India
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- Wilmar Investment Holdings
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- GVK Power & Infra Limited - India
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- PetroVietnam Power Coal Import and Supply Company
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- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
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- Siam City Cement - Thailand
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- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
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- PowerSource Philippines DevCo
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- Aditya Birla Group - India
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- Maheswari Brothers Coal Limited - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
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- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
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- Kobexindo Tractors - Indoneisa
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- SMG Consultants - Indonesia
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- Minerals Council of Australia
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- Jorong Barutama Greston.PT - Indonesia
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- Electricity Generating Authority of Thailand
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- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Economic Council, Georgia
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- Electricity Authority, New Zealand
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