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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, 10 February 21
MARKET INSIGHT - INTERMODAL
We have just entered February, Chinese New Year holidays are about to start and the SnP market for bulkers is so hot as every seller would dream of ...
Tuesday, 09 February 21
SWITCHING COAL PLANTS TO PLN'S BIOMASS COFIRING PLAN IS NO MAGIC BULLET - IEEFA
Implementation risks for Indonesia PLN's switch from coal to biomass cofiring
PLN’s biomass cofiring plan will require not ...
Friday, 05 February 21
THE INDONESIA COAL PRICE REFERENCE FOR FEBRUARY 2021 SETTLES AT US$ 87.79 PER TON FOB VESSEL
COALspot.com: The Indonesia coal price reference for February 2021 settles at US$ 87.79 per ton FOB vessel. The February reference price is the hig ...
Thursday, 04 February 21
WHY BANGLADESH SHOULDN’T COUNT ON A FOSSIL FUEL FUTURE - IEEFA
Around US$50 billion of LNG projects in Asia at risk of cancellation
Two astonishing figures have circulated in the Asian energy sector in the ...
Wednesday, 03 February 21
INDONESIA TO EXPORT 395 MILLION TONS OF COAL IN 2021 - ESDM
Data from the Ministry of Energy and Mineral Resources shows that, Indonesia is planning to produce 550 million Ton of coal in 2021 and as of t ...
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- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
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- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
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- Central Electricity Authority - India
- McConnell Dowell - Australia
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- ICICI Bank Limited - India
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- Anglo American - United Kingdom
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- Latin American Coal - Colombia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Ministry of Mines - Canada
- White Energy Company Limited
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- AsiaOL BioFuels Corp., Philippines
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- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
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- The Treasury - Australian Government
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- Thai Mozambique Logistica
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- Romanian Commodities Exchange
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- Australian Commodity Traders Exchange
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- Indian Energy Exchange, India
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
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- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
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- SN Aboitiz Power Inc, Philippines
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- Baramulti Group, Indonesia
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- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Commonwealth Bank - Australia
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- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
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- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
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- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
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- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
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- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
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- Petron Corporation, Philippines
- Wilmar Investment Holdings
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- GN Power Mariveles Coal Plant, Philippines
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- Asmin Koalindo Tuhup - Indonesia
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- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
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- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
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- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
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- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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