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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, 28 April 21
MARKET INSIGHT - INTERMODAL
Despite the current challenges as a result of the global pandemic, 2021 is turning out to be a landmark year for the iron ore market with spot pric ...
Monday, 26 April 21
CHINA TO FURTHER CUT COAL USE IN 2021 - XINHUA
China aims to reduce the share of coal in its energy mix to less than 56% this year, according to a guideline released by the National Energy Admin ...
Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...
Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...
Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...
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- Madhucon Powers Ltd - India
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- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
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- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
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- Petrochimia International Co. Ltd.- Taiwan
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- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
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- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
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- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
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- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
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- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
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- MS Steel International - UAE
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- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
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- Indian Energy Exchange, India
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- Bhushan Steel Limited - India
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- Tata Chemicals Ltd - India
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- LBH Netherlands Bv - Netherlands
- The University of Queensland
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- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
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- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
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- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
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- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Planning Commission, India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
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- SN Aboitiz Power Inc, Philippines
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- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
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- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
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- Eastern Energy - Thailand
- Singapore Mercantile Exchange
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