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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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- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
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- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
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- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
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- Dalmia Cement Bharat India
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- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
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- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Thai Mozambique Logistica
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- ASAPP Information Group - India
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- International Coal Ventures Pvt Ltd - India
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- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Economic Council, Georgia
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
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- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
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