Industry Report - Global Marine and Container Terminal Operation.pdf
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1、CONTENTS Error! No text of specified style in document. March 2011 | .au | www.ibisworld.co.uk | IBISWorld Industry Report H4913-GL Global Marine the share of containerized imports is expected to rise from 46% to 53%. WWW.IBISWORLD.COM Global Marine a business model that smaller companies are unab
2、le to achieve. For instance, the China Overseas Shipping Company (COSCO), a state- owned firm, has a joint operating agreement with a US stevedoring company at Long Beach, California. In the same vein, worldwide shipping leader AP Moller - Maersk is a major operator of port terminals via its APM Ter
3、minals subsidiary. The ports of Los Angeles and Oakland are partly owned by the Singapore government through its PSA Terminals business, which has major operations in its native Singapore, and is a major player in this industry. International Trade Exports in this industry are low and steady. Import
4、s in this industry are high and increasing. As a global industry based on service provision at specific sites, the term “international trade“ is an ambiguous one. While port operators facilitate international trade, and many of the largest operators have a presence in more than one country, the inab
5、ility to trade the service itself across borders is the key factor. In the absence of imports and exports, global demand equals industry revenue and in 2010 is estimated at $31.56 billion. WWW.IBISWORLD.COM Global Marine telecommunications; property and hotels; retail and manufacturing and energy an
6、d infrastructure divisions. HPH also has a range of logistics operations and warehousing facilities. The company operates in six of the nine busiest container ports in the world, and has interests in 300 berths in 49 ports across 25 countries. Financial performance In the first half of 2009, the bad
7、 news continued for HPH, as the global economic climate made for tough going. Earnings from the operation in mainland China and Hong Kong fell by a quarter, with company- wide pre-tax profit falling by 33% from the corresponding period in 2008. In 2008, HPH handled 67.6 million twenty-foot equivalen
8、t units (TEU), a modest increase on the previous year. Two new ports commenced under the HPH banner during the year, making around 300 berths in total. Sales increased strongly, owing to the ongoing rise in Chinas container trade, to which Hutchison has significant exposure. HPH operated 292 berths
9、in 47 ports worldwide in 2007, handling 66.3 million TEU. This rose by 2% in 2008, to 67.6 million TEU. Approximately half of its cargo throughput is attributable to HPHs operations in Hong Kong and mainland China. In April 2006, Hutchison Whampoa agreed to sell 20% stakes in Hutchison Port Holdings
10、 and a related company, Hutchison Ports Investments, to Singapore-based rival port operator PSA International. Hutchison Whampoa Limited - financial performance Year Sales Billion Dollars Growth % change Assets Billion Dollars Growth % change WWW.IBISWORLD.COM Global Marine the company lists 49 mari
11、ne terminals in 31 countries. Its flagship Jebel Ali facility in Dubai was voted “Best Seaport in the Middle East“ for 14 consecutive years. The company also has interests in logistics businesses in Hong Kong and China, notably ATL, the market leading logistics operator based at Kwai Chung, Hong Kon
12、g. DP World manages container, bulk and other cargo. Financial performance The Dubai Governments worsening financial problems during late 2009 contributed to the lowering of DP World to junk bond status by some ratings agencies. However, the government confirmed that DP World and its debt were not i
13、ncluded in a debt restructuring process announced in November. Declining cargo volumes in the first part of 2009 placed pressure on the companys revenue forecasts. DP World handled 25.6 million TEU at the terminals that it wholly owned in 2009, which was a 9% decline. Across all of the terminals in
14、which it has an interest, volumes declined 6% to 43.4 million TEU. Its Australia and Americas business segment was the hardest hit, with traffic falling 15%. During 2009, DP World opened two new terminals; in Djibouti, East Africa and Ho Chi Minh City, Vietnam. It also won concessions for two new te
15、rminals in Algeria. In 2008, DP World handled more than 46.8 million TEU across its portfolio from the Americas to Asia - an increase of 8% compared with 2007. With a number of major expansion and development projects in key growth markets in the pipeline, including India, China and the Middle East,
16、 the capacity is expected to rise to around 95 million TEU over the next ten years. Profit after tax for 2008 was in excess of $600 million. Revenue from container related activity increased slightly to 76% with the remaining 24% from non- container related activities such as bulk cargo, marine serv
17、ices, roll-on roll-off cargo and P and a joint venture with China Ocean Shipping Company to operate a major container facility in the Port of Long Beach, which commenced in 2001. During 2009, SSA announced plans to use a revolutionary new crane technology that offered potential productivity improvem
18、ents of 50% or more. The technology, developed by Chinas Shanghai Zanhua Port WWW.IBISWORLD.COM Global Marine & Container Terminal Operation March 2011 26 Machinery Company, is a new system of electrified guide rails to move containers throughout the yard at a terminal. IBISWorld believes that compa
19、ny revenue declined slightly during 2009, totaling around $1.6 billion. A new generation of container tracking system was introduced in 2008 at SSAs Oakland terminal, with ContainerTrac, Inc. providing a cell-level accurate position detection system to integrate with the existing terminal operating
20、system (TOS) from Tideworks Technology. The system boasts the potential to improve the efficient flow through of containers, in addition to homeland security. In late 2007, the company reported that it had in excess of $2 billion of new projects in the pipeline, including terminals in Mexico and Eur
21、ope. It is difficult to calculate the sale price of the 49% stake to Goldman Sachs, as SSAs revenue figures have always remained closely guarded. IBISWorld estimates that 2007 revenue rose 5%, to $1.66 billion. It is predicted that the additional capital provided by Goldman Sachs will enable SSA to
22、fund further expansion programs in the future, and continue its growth. CMHI - financial performance Year Revenue Million Dollars Growth % change Operating Profit Million Dollars Growth % change 2005 383.2 N/C 304.0 N/C 2006 562.0 46.7 327.0 7.6 2007 824.1 46.6 454.4 39.0 2008 N/A N/C 476.0 4.8 SOUR
23、CE: ANNUAL REPORT WWW.IBISWORLD.COM Global Marine & Container Terminal Operation March 2011 27 Operating Conditions Capital Intensity The level of capital intensity is medium. Significant capital investment is required to purchase cranes and other equipment In some cases, there is the capacity to le
24、ase equipment to reduce the initial outlay Marine port operation is a capital intensive activity, but numerous other requirements generally need to be met. A new operator looking to enter the industry will require up-front investments to be made on cranes, lifting equipment, and storage. An operator
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