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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Videocon Industries ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- ICICI Bank Limited - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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