update on container liner shipping - · pdf fileupdate on container liner shipping frans waals...

Update on Container Liner Shipping

Frans Waals

DYNAMAR B.V.

Netherlands

THE TRADES

www.dynamar.com IMSF 2015

Worldwide Container Trade Volumes

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

0

25

50

75

100

125

150

175

200

Car

ryin

gs (

mill

ion

TEU

)

2014 volume152 million TEU

2014 Growth4%


Europe-Far East

-30%

-20%

-10%

0%

10%

20%

30%

0

5

10

15

20

25

30

Car

ryin

gs (

mill

ion

TEU

)

Far East - Europe Europe-Far East Growth

+7.4% > 15.3 mln TEU +1,3% > 6.5 mln TEU +5.4% > 22.3 mln TEU


Transpacific

-30%

-20%

-10%

0%

10%

20%

30%

0

5

10

15

20

25

30

Car

ryin

gs (

mill

ion

TEU

)

Far East-US US-Far East Growth

+5.4% > 13.1 mln TEU -2.4% > 6.2 mln TEU +2.4%% > 19.3 mln TEU


Transatlantic

-30.0%

-20.0%

-10.0%

0.0%

10.0%

20.0%

30.0%

0

1

2

3

4

5

6

Car

ryin

gs (

mill

ion

TEU

)

US-Europe Europe-US Growth

-0.6% > 1.9 mln TEU +9.0% > 2.8 mln TEU +5.5% > 4.6 mln TEU

THE FINANCIALS


China-based rates (index)

0

200

400

600

800

1,000

1,200

1,400

1,600

2011 2012 2013 2014 2015

Ind

ex

Spot rates

Medium/Longterm rates


Medium/longterm rates (index)

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2011 2012 2013 2014 2015

Ind

ex

Far East-Europe

Far East-USWC


Spot rates (USD)

0

500

1,000

1,500

2,000

2,500

2011 2012 2013 2014 2015

USD

/TEU

Far East-Europe

Far East-USWC


Price of HFO (USD)

0

100

200

300

400

500

600

700

800

2011 2012 2013 2014 2015

USD

/To

n


Charter hire (Index)

0

100

200

300

400

500

600

700

800

900

1,000

2011 2012 2013 2014 2015

Ind

ex


Profit/loss 2014

-1,000

-500

0

500

1,000

1,500

2,000

2,500

3,000

Ne

t/o

pe

rati

ng

pro

fit

(mill

ion

USD

) Operating result

Net result

Selling off propertiesIntegration of CSAV


Profit/loss since 2009

-4,000

-3,000

-2,000

-1,000

0

1,000

2,000

3,000

4,000

5,000

6,000

Ne

t/o

pe

rati

ng

pro

fit

(mill

ion

USD

) Operating result

Net result


Sold between Jan 2013 and April 2014Carrier Asset When PriceMaersk Interests held: Dansk Supermarked and F.Salling Jan-14 3,000Maersk Interests held: DFDS shareholding (31%) Sep-13 291Maersk Vessels: Handygas and Very Large Gas Carriers (2 deals) 2013 722Maersk Vessels: VLCCs (15) Jan-14 980MOL Share of: Los Angeles and Oakland terminals (49%)1 Jan-14 201MSC Share of: Terminal Investment Limited (35%) May-13 1,930NYK Interests held: Maestra Navegacao (9%) Apr-13 5Wan Hai Interests in: Yangtze River Express air cargo carrier (6%) Jul-13 6APL Singapore headquarters Feb-13 307China COSCO Share of: Qingdao (Asset) Management (81%) Nov-13 336China COSCO Share of: Shanghai Tianhongli (Asset) Management (81%) Nov-13 274China COSCO Interests held: COSCO Pacific share of CIMC (22%)3 Sep-13 527China COSCO Subsidiary: COSCO Logistics Jun-13 1,084China Shipping Subsidiary: China Shipping Yangshan Jan-14 50China Shipping Subsidiary: Shanghai Zhenjiang Industrials Co Jan-14 61China Shipping Subsidiary: China Shipping Terminals Development1, 2 Nov-13 557.2China Shipping Share of: Lianyungang New Oriental Int'l CT (55%) Sep-13 121CMA CGM Share of: Terminal Link (49%) Jun-13 531Evergreen Containers (32,000) Dec-13 76Hanjin Activities: Dry bulk and LNG shipping (76% of) Dec-13 285Hanjin Share of: Total Terminals International Algeciras (76%)1 Mar-14 169Hyundai Activities: LNG shipping business (incl 7 vessels)1 Feb-14 1,000Hyundai Interests held: KB Financial Group Jan-14 43Hyundai Containers (18,100) Dec-13 53Yang Ming Interests in: Yangtze River Express air cargo carrier (12%) Jul-13 12Yang Ming Share of: Kao Ming Container terminal (12.5%) Nov-13 56Yang Ming Containers (undisclosed number) Nov-13 47ZIM Interests held: CXIC Star (55%) & CXIC Huizhou (25%) Nov-13 51

Total 12,774(Million USD)

Re-investmentUSD 7.1 billion

Fire saleUSD 5,6 billion

THE ANSWER


Europe/Mediterranean-Far EastCKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

Maersk Line

UASC

China Shipping

CMA CGM

MSC

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

ZIM

Maersk Line

UASC

China Shipping

CMA CGM

MSC

Wan Hai

PIL

2M

MSC

Maersk Line

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

ZIM

PIL

Wan Hai

No

rth

Eu

rop

e –

Far

East

Med

iter

ran

ean

–Fa

r Ea

st

No

rth

Eu

rop

e –

Far

East

Med

iter

ran

ean

–Fa

r Ea

st

Bef

ore

AFter

2M

MSC

Maersk Line

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

Ocean Three

CMA CGM

China Shipping

UASC

Ocean Three

CMA CGM

China Shipping

UASC


Far East-US East Coast/West CoastCKHY Alliance

Coscon

Hanjin

“ K” Line

Yang Ming

2M

MSC

Maersk Line

ZIM

Maersk Line

UASC

China Shipping

Evergreen

CMA CGM

MSC

ZIM

CKHY Alliance

Coscon

Hanjin

“ K” Line

Yang Ming

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

ZIM

Maersk Line

UASC

China Shipping

Evergreen

CMA CGM

MSC 2M

MSC

Maersk Line

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

Far

East

–U

S W

est

Co

ast

Far

East

–U

S Ea

st C

oas

t

Far

East

–U

S W

est

Co

ast

Far

East

–U

S Ea

st C

oas

t

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

Bef

ore

AFter

New World Alliance

APL

Hyundai

MOL

Grand Alliance

Hapag-Lloyd

NYK

OOCL

Matson/Westwood

PIL/Wan Hai

ZIM

Matson/Westwood

PIL/Wan Hai

Ocean Three

CMA CGM

China Shipping

UASC

Ocean Three

CMA CGM

China Shipping

UASC


TransatlanticCKHY Alliance

Coscon

“ K” Line

Hanjin (not present)

Yang Ming

2M

MSC

Maersk Line

Marfret

Maersk Line

Evergreen

CMA CGM

MSC

ACL

CKHY Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Melfi

Maersk Line

UASC

CMA CGM

MSC2M

MSC

Maersk Line

CKHYE Alliance

Coscon

“ K” Line

Hanjin

Yang Ming

Evergreen

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

ZIM

UASCNo

rth

Eu

rop

e –

No

rth

Am

eric

a

Med

iter

ran

ean

–N

ort

h A

mer

ica

No

rth

Eu

rop

e –

No

rth

Am

eric

a

Med

iter

ran

ean

–N

ort

h A

mer

ica

CKHYE Alliance

Coscon

“ K” Line

Hanjin (not present)

Yang Ming

Evergreen (n.p.)

G6 Alliance

APL

Hapag-Lloyd

Hyundai

MOL

NYK

OOCL

Bef

ore

AFter

New World Alliance

APL

Hyundai

MOL

Grand Alliance

Hapag-Lloyd

NYK

OOCL

ICL

ACL

Melfi

ICL

CMA CGM

Marfret

New World Alliance

APL

Hyundai

MOL

Grand Alliance

Hapag-Lloyd

NYK

OOCL

Turkon

ZIM

Turkon

CMA CGM


Merger/Takeover

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://itm-corp.com/ocean_steam.htm&ei=rDZHVdaRJcTtUvG8gOgD&bvm=bv.92291466,d.d24&psig=AFQjCNE6SwwcJ85KsoZSHLvxBhJzcpfN0A&ust=1430816795083334

http://www.google.co.uk/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&uact=8&ved=0CAcQjRw&url=http://itm-corp.com/ocean_steam.htm&ei=rDZHVdaRJcTtUvG8gOgD&bvm=bv.92291466,d.d24&psig=AFQjCNE6SwwcJ85KsoZSHLvxBhJzcpfN0A&ust=1430816795083334


19,100 TEU CSCL Globe in Rotterdam


The 18,000-19,000 TEU class


The details

Ship Triple-E CSCL Globe MSC Oscar Barzan

Operator Maersk China S. MSC UASC

Delivered Jun-13 Nov-14 Jan-15 Apr-15

TEU 18,340 18,980 19,224 18,800

Length o.a. 399.9 399.7 395.4 400.0

Breadth 59.0 58.6 58.6 58.6

Draught 16.0 16.0 16.0 16.0

DWT 194,252 184,320 197,360 190,000

DWT/TEU 10.6 9.7 10.3 10.1

Boxes wide 23 23 23 23

Reefer plugs 600 1,000 1,800 1,000


Build even larger container ships

Length +12.5 metres+900 TEU

Height +2.5 metres+1,000 TEU

Width +2.5 metres+1,000 TEU


Number of 16,000+ vessels

0

5

10

15

20

25

30

35

ChinaShipping

Coscon CMA CGM Evergreen MaerskLine

MOL MSC OOCL UASC

No

. of

ship

s

In operation

On order

Intent


Capacity of 16,000+ vessels

0

100,000

200,000

300,000

400,000

500,000

600,000

ChinaShipping

Coscon CMA CGMEvergreen MaerskLine

MOL MSC OOCL UASC

TEU

cap

acit

y

In operation

On order

Intent


That’s all folks

update on container liner shipping - · pdf fileupdate on container liner shipping frans waals...

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