Domestic coastal
container market is expected to grow at a significant pace from 2016 to 2024
owing to the shift from coastal areas to inland shipping. Inland shipping
offers shipping of commodities such as mineral oils, dry cargo, chemical
products and biofuels. The benefits such as customized solutions, packages and
ship trading are expected to grow inland shipping applications and drive the
industry growth.
Furthermore, costal
shipping is viable, reliable, and cost-efficient option of cargo transport. It
provides an environment friendly and economical transport option. The CO2
emissions for costal shipping in grams per ton/km are 14 grams as appose to 23
grams for rail freight. It is also around 38% cheaper than rail and 63% cheaper
than road. This advantage is expected to benefit the market over the next eight
years.
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More companies are
starting costal shipping services, for instance Indian companies are indulging
in alliance and joint ventures to connect the ports between east and west
coasts. Moreover, increasing developments in ports shipping companies and
railway sector is increasing the applications of the container in the market,
which is increasing its usage to carry goods.
The ease in
restrictions on coastal shipping in various countries is expected to boost the
demand for domestic coastal container market. India has relaxed cabotage
restrictions for port transship for at least half of containers handled and
hopes to attract more containerized cargos. This relaxation is anticipated to
enable foreign container lines to carry import-export laden and empty
containers between the Indian ports.
Factors restraining
the industry growth include the loading volume regulations. The container
weight and ship stability regulations restrict its use to avoid overweight,
which damages the transportation systems.
Asia Pacific is
expected to witness exponential growth over the forecast period owing to the
increasing demand from countries such as China and India. China has formed
several domestic trade port hubs based on the Yangtze River Delta’s Shanghai
Port, Suzhou Port, Yingkou Port and Bohai Bay’s Tianjin Port. India is also
expected to grow rapidly over the forecast period owing to the reducing
government restrictions.
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COSCO Container
Lines Co. Ltd., Pacific International Lines Pte Ltd, Hamburg Sud Group, Yang
Ming Marine Transport Corp, China Shipping Container Lines Co, Ltd., Orient
Overseas Container Line Ltd., and Hanjin Shipping Co. Ltd., are the key industry
players. Suppliers use product differentiation as well as strategic alliances,
mergers and acquisition to gain competitive advantage.
In April 2016,
COSCO Container Lines, Evergreen Line, CMA CGM, and Orient Overseas Container
Line announced that they have formed a new alliance enabling each of them to
offer comprehensive service networks and competitive products covering the
Asia-Mediterranean, Asia-Europe, Asia-Middle East, Asia-Red Sea, Asia-North
America East Coast, Trans-Pacific, and Trans-Atlantic trades.
In March 2015,
Pacific International Lines Pte Ltd. announced acquisition of Mariana Express
Lines (MELL) which is container line operator specializing in Asia Pacific
region such as Micronesia, Saipan, Guam, Papua New Guinea, Malaysia and Australia.
The acquisition was aimed to compliment PIL’s liner business and global
network.
In March 2015,
Hamburg Sud Group, announced that it has taken over the container liner
activities of Compania Chilena de Navegacion Interoceanica S.A.. The company
will continue to operate the Compania Chilena de Navegacion Interoceanica
container liner business under the established brand name on the trade routes
between the West coast of Asia, North America, South America, and Europe
respectively.
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