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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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Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
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- Jindal Steel & Power Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- IEA Clean Coal Centre - UK
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- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
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- PNOC Exploration Corporation - Philippines
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- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
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- Gujarat Sidhee Cement - India
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- Indonesian Coal Mining Association
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- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
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- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
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- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
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- Billiton Holdings Pty Ltd - Australia
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- Planning Commission, India
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- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
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- LBH Netherlands Bv - Netherlands
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- Australian Coal Association
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- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
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- Bulk Trading Sa - Switzerland
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- Romanian Commodities Exchange
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- Global Coal Blending Company Limited - Australia
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- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- ASAPP Information Group - India
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- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
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- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
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- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- The University of Queensland
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
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- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
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- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
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- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
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