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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, 13 October 21
MARKET INSIGHT - INTERMODAL
Following up on our insight on May 2021, where we discussed about the Capesize market outlook for the second half of the year, we are pleased to se ...
Wednesday, 13 October 21
FBX INDEX: THE IMPOSSIBILITY OF SHORT-TERM FORECASTING - LARS JENSEN
Will freight rates on Asia-Europe or the Transpacific reach 40.000 USD/FFE in the run-up prior to Chinese New Year 2022? Or will they start droppin ...
Wednesday, 13 October 21
CHINA FLOODS: COAL PRICE HITS FRESH HIGH AS MINES SHUT - BBC
The price of coal used in China’s power plants has surged to a new record high as another of the country’s key mining regions is hit by ...
Tuesday, 12 October 21
BUMA SIGNS CONDITIONAL AGREEMENT FOR AUSTRALIAN ASSET ACQUISITION
PT Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, through its newly incorporated Australian subsidiary, BUMA International Pty ...
Tuesday, 12 October 21
INDONESIA'S COAL-BASED POWER PLANTS ARE SUBJECT TO CARBON TAX NEXT YEAR, ELECTRICITY COSTS COULD RISE! - CNBC
The Indonesian government is planning plans to implement a carbon tax of IDR 30 per kilogram (kg) of carbon dioxide equivalent (CO2e) or equivalent ...
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- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Australian Coal Association
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
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