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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, 12 May 21
MARKET INSIGHT - INTERMODAL
Tanker S&P is finally back!
For an extended period, Dry bulk & Wet market rates have been diverging, with the SnP deals on each sect ...
Monday, 10 May 21
PAKISTAN: COAL GASIFICATION AND LIQUEFACTION HARMFUL TO ECONOMY - IEEFA
There is no second life for coal
Pakistan’s intention to use coal for power production through gasification and liquefaction technologie ...
Sunday, 09 May 21
HERE'S WHY INVESTORS ARE POURING MONEY INTO COAL, DESPITE ITS BLEAK FUTURE - FORBES
Coal stocks have surged this year – along with the wider energy sector – but experts warn these are likely short-term gains for an indu ...
Sunday, 09 May 21
MAYBANK TO STOP COAL FINANCING - BERNAMA
Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Currently, coal financing m ...
Saturday, 08 May 21
LNG-TO-POWER INVESTORS IN THE PHILIPPINES RISK EXPOSURE TO $14 BILLION IN STRANDED ASSETS - IEEFA
High regulatory and financial uncertainty in the Philippines market
The race to develop liquified natural gas (LNG) facilities in th ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Heidelberg Cement - Germany
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- Goldman Sachs - Singapore
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- Indo Tambangraya Megah - Indonesia
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- Independent Power Producers Association of India
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- Chamber of Mines of South Africa
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- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Indogreen Group - Indonesia
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- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
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- Savvy Resources Ltd - HongKong
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- Gujarat Electricity Regulatory Commission - India
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- Agrawal Coal Company - India
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- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
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- Posco Energy - South Korea
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
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- Directorate General of MIneral and Coal - Indonesia
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- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
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- SMG Consultants - Indonesia
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- Romanian Commodities Exchange
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- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
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- Economic Council, Georgia
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- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
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- SMC Global Power, Philippines
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- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
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- Interocean Group of Companies - India
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- London Commodity Brokers - England
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
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- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
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- Minerals Council of Australia
- New Zealand Coal & Carbon
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- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
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- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
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- Malabar Cements Ltd - India
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- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
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