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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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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
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- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
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- Port Waratah Coal Services - Australia
- The University of Queensland
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- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
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- Savvy Resources Ltd - HongKong
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- MS Steel International - UAE
- Energy Development Corp, Philippines
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- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
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- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
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- Sindya Power Generating Company Private Ltd
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- Power Finance Corporation Ltd., India
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- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
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- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
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- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
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- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
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- Gujarat Electricity Regulatory Commission - India
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- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
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- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
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- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
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- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
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- Banpu Public Company Limited - Thailand
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- Wilmar Investment Holdings
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