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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Coal and Oil Company - UAE
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- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
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- Edison Trading Spa - Italy
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- Ceylon Electricity Board - Sri Lanka
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- Siam City Cement - Thailand
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- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
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- Asmin Koalindo Tuhup - Indonesia
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- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
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- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
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- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
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- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
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- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Planning Commission, India
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- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
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- Bulk Trading Sa - Switzerland
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- Trasteel International SA, Italy
- PTC India Limited - India
- The Treasury - Australian Government
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- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
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- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
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- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
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- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Australian Coal Association
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- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
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- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
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