Business Monitor International


Taiwan Shipping Report

Published 02 April 2014

  • 117 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
Taiwan Shipping Report

Subdued Recovery Still On Track

Our outlook for Taiwan's economy has not changed substantially since our last quarterly report. Then, on the back of slightly stronger fourth-quarter 2013 data, we edged up our growth forecast for 2014 from 3.0% to 3.1%. Now, on the back of slightly weaker first-quarter 2014 data, we are dropping back again to a 3.0% forecast for the year as a whole. Essentially, we believe private consumption and exports are easing back a little while investors remain frustrated by difficulties in securing land and labour, which have led to the stalling of a number of projects. The recovery in the US and Europe remains a clear positive for the outward-looking island economy, but this is somewhat offset by the slowdown in its main trade partner, mainland China. We expect GDP growth to accelerate to 4.1% in 2015. Trend growth over the medium term to 2018 will be 3.9% per annum.

Although subdued, the recovery in GDP in 2014 will help to pull activity levels in the country's main ports back into positive territory. This is in contrast to 2013, when we estimate that tonnage throughput in some ports (such as Taichung and Kaohsiung) actually contracted. Growth in 2014 will, however, remain very low in percentage terms. Broadly speaking, Kaohsiung - Taiwan's largest port - remains the most resilient, not least because it is attracting new investment. On the plus side, the policy of cross-straits integration is expected to continue as Taiwan's ports and shipping lines position themselves to work through a series of alliances and partnerships with mainland companies over the next few years.

Headline Industry Data

  • 2014 Port of Kaohsiung tonnage throughput forecast to increase by 1.3% to 117.188mn tonnes, after an estimated 4.2% contraction in 2013. Over the medium term to 2018 we project an annual average increase of 1.5%.

  • Port of Kaohsiung container throughput forecast to grow 2.7% to 10.206mn TEUs in 2014, up from 1.6% growth in 2013; over the medium term...

Table of Contents

BMI Industry View
7
SWOT
9
Shipping
9
Business Environment
11
Economic
12
Political
13
Industry Forecast
14
Port of Kaohsiung Throughput
14
Port of Keelung Throughput
20
Table: Major Port Data
25
Table: Trade Overview
26
Table: Key Trade Indicators
26
Market Overview
28
Taiwan Container Shipping Market Overview
28
Industry Trends And Developments
38
Taiwan Company Profile
41
Yang Ming Marine Transport Corporation
41
Wan Hai Lines
44
Cheng Lie Navigation Company (CNC Line)
47
Global Industry Overview - Container Shipping
50
Demand: Global Box Outlook Brightening
50
Supply: Overcapacity To Remain As More Megas Saturate The Market
61
Table: Container Line Mega-Vessel Newbuild Plans
63
Rates: A Strong Start, But Rate Management Must Continue
66
Table: 2012 SCFI Europe Base Port Average Freight Rate Overview
70
Table: 2012 SCFI USWC Base Port Average Freight Rate Overview
70
Global Industry Overview - Dry Bulk Shipping
71
Demand: Stimulus Blip Playing Out, But For How Long-
71
Supply: Dry Bulk Fleet growth Slipping, But Overcapacity Still A Problem
76
Table: China Iron Ore Trade Partners Overview
82
Table: China Coal Trade Partners Overview
82
Global Industry Overview - Liquid Bulk Shipping
83
Improving Fundamentals In Dirty Tanker Market
83
Tonne-Mile Growth To Support Product Tanker Sector
86
LNG Boom To Stall In 2013
89
Global Company Strategy
92
Maersk Line
92
Mediterranean Shipping Company
101
CMA CGM
106
Evergreen Line
114
COSCO Container Lines Company
120
Hapag-Lloyd
127
Hanjin Shipping
133
APL
138
China Shipping Container Line (CSCL)
145
Mitsui OSK Lines
152
Macroeconomic Forecasts
157
Erosion Of Tech Competiveness
159
Politics Behind Hesitation Towards Chinese Investment
160
Labour Market Overly Rigid, Reform Unlikely
161
Demographic Decline To Aggravate Labour Market Woes
162
Growth Projections Downgraded
163
Table: Taiwan - Economic Activity
163

The Taiwan Shipping Report has been researched at source and features latest-available data and Business Monitor International (BMI)'s independent forecasting, critically analysing international transport of dry bulk and containers. The report evaluates the global commodities and trade backdrop, alongside in-depth country-specific analysis of trade prospects. The report also contains company profiles covering leading multinational and national shipping companies and analysis of latest industry news, trends and regulatory developments in Taiwan.

BMI's Taiwan Shipping Report provides industry professionals and strategists, sector analysts, business investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the shipping industry in Taiwan.

Key Benefits

  • Benchmark BMI's independent shipping industry forecasts for Taiwan to test other views - a key input for successful budgeting and strategic business planning in the Taiwanese shipping market.
  • Target business opportunities and risks in Taiwan through our reviews of latest industry trends, regulatory changes and major deals, projects and investments.
  • Exploit the latest competitive intelligence and company SWOTS on your competitors and peers including multinational and national companies.

Coverage

BMI Industry View

Summary of BMI's key industry forecasts, views and trend analysis covering shipping, major investments and projects and significant multinational and national company developments.

SWOT Analysis

SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis of the state's shipping sector, which carefully evaluates the short- and medium-term issues facing the industry.

Market Overview

Analysis of the capacity, terminals and planned development of the major ports in each country, including data on throughput and total tonnage.

Industry Forecast Scenario

Historic data series (2008-2012) and forecasts to end-2018 for all key industry and macroeconomic indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Major port freight throughput (tonnes/teu); overall freight throughput (teu); total imports (US$bn) and exports (US$bn).

Company Profiles

Company profiles include business activities, leading products and services, company strategy, trends and developments and economic performance analysis.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc