China Shipping Industry Report - H2, 2013

January 2013 | 38 pages | ID: C07E591AAA8EN
Emerging Markets Direct

Abstracts

Overcapacity and declining rates characterized container shipping in 2011 and 2012. Capacity reduction and export rush before the Lunar New Year holiday are expected to lead to rate restoration in early 2013. Delivery of new vessels in 2013 is estimated to represent nearly 10% of existing fleet capacity.

In 2012, the Baltic Dry Index posted its lowest average since 1986. Vessel scrapping increased as a result of high supply growth. The cancellations of major coal transportation contracts and the double-track price structure for thermal coal may add uncertainties to the coastal bulk freight rate in 2013. Capacity addition of large size vessels is expected to cause persistent low freight rates in near term.

The shipping industry faced challenges of high bunker costs amid low shipping rates in 2012. Slow steaming is an industry norm amid current market conditions of low freight rates and rising bunker prices. Average bunker prices are expected to remain high and keep rising in 2013. According to the 12th Five-Year guideline on the transportation sector, China aims to increase the number of deep-water berths to 2,214 by 2015.

Key Points:

• Deliveries of Capesize and Panamax will make up over two-thirds of new dry bulk vessels in 2013.
• The Chinese port industry concentration level is currently low but is expected to increase going forward as industry leaders continue to expand operating capacities.
• Increasing focus will be placed on the construction of coal, crude oil, iron ore and container wharves.

Contents

1. INDUSTRY PROFILE

1.1 Global Shipping Industry
1.2 Global Port Industry
1.3 China Shipping industry
1.4 China Port Industry

2. MARKET TRENDS AND OUTLOOK

2.1 Container Shipping
2.2 Dry Bulk Shipping
2.3 Bunker Costs
2.4 Ports Development

3. LEADING PLAYERS AND COMPARATIVE MATRIX

3.1 Leading Players
  3.1.1 Shipping
    3.1.1.1 China Shipping Container Lines Co. Ltd.
    3.1.1.2 China Shipping Development Co. Ltd.
    3.1.1.3 COSCO Shipping Co. Ltd.
    3.1.1.4 Nanjing Tanker Corporation
  3.1.2 Ports
    3.1.2.1 Shanghai International Port (Group) Co. Ltd.
    3.1.2.2 Tianjin Port Holdings Co. Ltd.
    3.1.2.3 China Merchants Holdings (International) Co. Ltd.
    3.1.2.4 Dalian Port (PDA) Co. Ltd.
3.2 Comparative Matrix
3.3 SWOT Analysis

4. TABLES AND CHARTS

Table 1: Development in International Seaborne Trade (Million of Tons Loaded)
Table 2: Top 20 Countries by Tonnage, January 1, 2012
Table 3: Top 20 World Container Ports
Table 4: Container Throughput at Major Coastal Ports
Table 5: CSCL Financial Highlights
Table 6: CSDC Financial Highlights
Table 7: COSCOL Financial Highlights
Table 8: NJTC Financial Highlights
Table 9: SIPG Financial Highlights
Table 10: Tianjin Port Financial Highlights
Table 11: CMHI Financial Highlights
Table 12: Dalian Port Financial Highlights
Table 13: Selected Peers Comparison of Key Financial Ratios
Chart 1: Seaborne Trade by Percentage Share in World Tonnage 2011
Chart 2: New ConTex Index
Chart 3: China GDP and PMI
Chart 4: China International Trade
Chart 5: Waterway Freight Turnover and Traffic
Chart 6: China Container Throughput
Chart 7: Coastal Ports Freight Carried by Product
Chart 8: Inland River Ports Freight Carried by Product
Chart 9: China Containerized Freight Index (CCFI)
Chart 10: Shanghai Containerized Freight Index (SCFI)
Chart 11: Baltic Dry Index
Chart 12: China Coastal Bulk Freight Index (CBFI)
Chart 13: Bunkerworld Index
Chart 14: Number of Berths in Production at Major Coastal and River Ports
Chart 15: Fixed Asset Investment at Coastal and River Ports
Chart 16: CSCL Segment Revenue 2011
Chart 17: CSDC Segment Revenue 2011
Chart 18: COSCOL Segment Revenue 2011
Chart 19: NJTC Segment Revenue 2011
Chart 20: SIPG Segment Revenue 2011
Chart 21: Tianjin Port Segment Revenue 2011
Chart 22: CMHI Segment Revenue 2011
Chart 23: Dalian Port Segment Revenue 2011