H4913-GL Global Marine - Container Terminal Operation Industry Report.pdf

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1、IBISW1-800-330-3772infoIBISW INDUSTRY REPORT H4913-GLGlobal Marine&Container TerminalOperationChristopher DellaCamera|September 2021Global Marine&Container Terminal OperationSeptember 20212IBISWContentsCOVID-19(Coronavirus)Impact Update.3ABOUT THIS INDUSTRY.5Industry Definition.5Major Players.5Main

2、Activities.5Supply Chain.6INDUSTRY AT A GLANCE.7Executive Summary.9INDUSTRY PERFORMANCE.10Key External Drivers.10Current Performance.11INDUSTRY OUTLOOK.14Outlook.14Industry Life Cycle.16PRODUCTS&MARKETS.17Supply Chain.17Products&Services.17Demand Determinants.18Major Markets.19Business Locations.21C

3、OMPETITIVE LANDSCAPE.23Market Share Concentration.23Key Success Factors.23Cost Structure Benchmarks.24Basis of Competition.26Barriers to Entry.27Industry Globalization.27MAJOR COMPANIES.28Major Players.28Other Companies.33OPERATING CONDITIONS.34Capital Intensity.34Technology&Systems.35Revenue Volati

4、lity.36Regulation&Policy.36Industry Assistance.37KEY STATISTICS.38Industry Data.38Annual Change.38Key Ratios.38ADDITIONAL RESOURCES.39Additional Resources.39Industry Jargon.39Glossary.39Global Marine&Container Terminal OperationSeptember 20213IBISWCOVID-19(Coronavirus)Impact UpdateIBISWorlds analyst

5、s constantly monitor the industry impacts of current events in real-time here is an update ofhow this industry is likely to be impacted as a result of the global COVID-19 pandemic:Revenue performance for the Global Marine and Container Terminal Operation industry is anticipated to recover in2021 aft

6、er the previous years disruptions.For more detail,please see the Current Performance chapter High trade volumes and imbalances across global supply chains have contributed to port congestion and shippingdelays,posing a challenge to industry operators.For more detail,please see the Current Performanc

7、e chapter.Due to global shipping imbalances,operating inefficiencies have led to rising costs and a lower average industryprofit margin.For more detail,please see the Cost Structure Benchmarks chapter.Note:The content in this report is currently being updated to reflect the trends outlined above.Glo

8、bal Marine&Container Terminal OperationSeptember 20214IBISWAbout IBISWorldIBISWorld specializes in industry research with coverage on thousands of global industries.Our comprehensive data and in-depth analysis helpbusinesses of all types gain quick and actionable insights on industries around the wo

9、rld.Busy professionals can spend less time researchingand preparing for meetings,and more time focused on making strategic business decisions that benefit you,your company and your clients.Weoffer research on industries in the US,Canada,Australia,New Zealand,Germany,the UK,Ireland,China and Mexico,a

10、s well as industries thatare truly global in nature.Global Marine&Container Terminal OperationSeptember 20215IBISWAbout This IndustryIndustry DefinitionCompanies in the Global Marine and Container Terminal Operation industry operate terminals,including dockingand pier facilities.Main activities incl

11、ude the loading and unloading of cargo from ships,arranging paperwork forincoming shipments to meet customs requirements,operating a computer system to connect cargo with recipientsand transferring cargo onto trucks and trains.Major PlayersDP WorldAPM TerminalsCK HutchisonPSA InternationalCOSCO Paci

12、ficMain ActivitiesThe primary activities of this industry are:Waterfront terminal operation(docks,piers and wharves)Docking facility operationsWharf operationContainer stevedoringOther marine cargo handlingThe major products and services in this industry are:Marine cargo handlingNavigational service

13、sPort and harbor operationsOtherGlobal Marine&Container Terminal OperationSeptember 20216IBISWSupply ChainSIMILAR INDUSTRIESGlobal Ship&Boat BuildingGlobal Deep-Sea,Coastal&Inland Water TransportationGlobal AirlinesGlobal Airport Operation RELATED INTERNATIONAL INDUSTRIESPort&Harbor Operations in th

14、eUSHarbor&Port Operations forFreight in ChinaPort and Water TransportTerminals in New ZealandWater Transport Terminals inAustralia Global Marine&Container Terminal OperationSeptember 20217IBISWIndustry at a GlanceKey Statistics$53.5bnRevenueAnnual Growth201620212.2%Annual Growth202120264.8%Annual Gr

15、owth20162026$9.0bnProfitAnnual Growth201620211.7%Annual Growth20162021 16.8%Profit MarginAnnual Growth20162021-0.4pp Annual Growth20162021 3,237BusinessesAnnual Growth201620210.2%Annual Growth202120261.8%Annual Growth20162026 445kEmploymentAnnual Growth201620213.8%Annual Growth202120263.9%Annual Gro

16、wth20162026$12.1bnWagesAnnual Growth201620214.4%Annual Growth202120264.1%Annual Growth20162026Key External Drivers%=201621 Annual Growth2.2%Global consumer spending0.8%Industrial production index ofOECD countries3.9%GDP of the BRIC nations2.7%Total value of world trade Industry StructurePOSITIVE IMP

17、ACT Revenue VolatilityLow ConcentrationLow Barriers to EntryHigh/IncreasingMIXED IMPACT Life CycleMature Industry AssistanceMedium/Steady Regulation&PolicyMedium/Steady Technology ChangeMedium CompetitionMedium/IncreasingNEGATIVE IMPACT Capital IntensityHigh Industry GlobalizationHigh/Increasing Glo

18、bal Marine&Container Terminal OperationSeptember 20218IBISWProducts&Services Segmentation Major PlayersSWOTSTRENGTHS High Profit vs.Sector Average WEAKNESSES High Customer Class Concentration High Product/Service Concentration Low Revenue per Employee High Capital Requirements OPPORTUNITIES High Rev

19、enue Growth(2016-2021)High Performance Drivers THREATS Very Low Revenue Growth(2005-2021)Low Revenue Growth(2021-2026)Global Marine&Container Terminal OperationSeptember 20219IBISWExecutive SummaryOngoing trade liberalization,global economic expansion and growth in Asian economies have been the main

20、 factorspropelling growth for the Global Marine and Container Terminal Operation industry.However,a slowdown in globalgrowth tempered industry expansion,while uncertainty due to geopolitical tensions further setback industryperformance.The COVID-19(coronavirus)pandemic and its disruptions to interna

21、tional trade led to major volatilityfor industry operators as shipping volumes surged following a sharp contraction in 2020.As a result,IBISWorldprojects industry revenue will increase at an annualized rate of 2.2%to$53.5 billion over the five years to 2021,including an increase of 7.6%in 2021 alone

22、 as trade flows remain elevated.Steadily rising levels of global consumer spending and production activity contributed to a moderate rise demand forindustry services during the first half of the current period.Terminal operators,many of which are owned bycompanies in the shipping industry,have under

23、gone mergers and vertically integration to leverage economies ofscale and provide improved coordination across marine transport services.Despite these developments,morerecently port and terminal operators have experienced various challenges due to surges in cargo volume followingpandemic related imb

24、alances,stressing the need for investment in port facilities to expand capacity and improveproductivity.Due to related pressures on operators as a result of port congestion,industry profit is anticipated todecline during the period as companies adapt to volatile operating conditions.Over the five ye

25、ars to 2026,the industry is projected to benefit from improving trade levels,with greater demandstemming from the logistics and shipping sectors.Trade between Asian countries and the rest of the world isexpected to propel global revenue growth over the next five years,with accelerated growth in seve

26、ral developedeconomies forecast to bolster industry performance.Moreover,the trend of port privatization is expected tocontinue,while larger vessel sizes and growing global shipping capacity force operators to expand facilities andimprove productivity.Consequently,IBISWorld projects industry revenue

27、 will increase at an annualized rate of 4.8%to$67.5 billion over the five years to 2026.However,unforeseen trade tensions may pose a threat to industryperformance moving forward.Global Marine&Container Terminal OperationSeptember 202110IBISWIndustry PerformanceKey ExternalDriversTotal value of world

28、 tradeThe total value of world trade represents the value of goods and services traded over international borders in agiven year.Since most global trade is carried out by sea,increased trade levels directly lead to higher demand forport and terminal services.The total value of world trade is expecte

29、d to increase in 2021 as the global economyrecovers from the COVID-19(coronavirus)pandemic,posing a potential,but dissipating threat to the industry.Global consumer spendingMarine and container terminal operators are sensitive to changes in consumer spending patterns.When consumerspending increases,

30、more people will likely purchase commercial goods,including many goods destined for trade.Since most world trade is conducted by cargo ships,which require marine and container terminal services,anincrease in consumer spending is anticipated to boost industry revenue.Global consumer spending is expec

31、ted toincrease in 2021.GDP of the BRIC nationsDespite a recent divergence in economic growth,Brazil,Russia,India and especially China,also known as the BRICnations,are all large economies with growing consumer bases.As a result,these countries economic growthdirectly leads to higher trade volumes,wh

32、ich increases demand for industry services.In 2021,the GDP of the BRICnations is expected to increase.Industrial production index of OECD countriesThe industrial production index of OECD countries measures industrial production from the 35 OECD countries,which include the United States,the United Ki

33、ngdom,Germany,France,Japan,South Korea and Australia.Theindex measures output in the manufacturing,mining,electric,gas and water utilities sectors of these nations.Whenthe industrial production index of these countries increases,more goods need to be shipped,which,in turn,boostsdemand for marine and

34、 container terminal services.The industrial production index of OECD countries is expectedto increase in 2021,representing a potential opportunity for the industry.Global Marine&Container Terminal OperationSeptember 202111IBISWCurrentPerformanceOver the five years to 2021,the Global Marine and Conta

35、iner TerminalOperation industry has struggled to maintain growth amid waning globaltrade conditions.After several years of steady revenue growth,global trade tensions and lackluster emerging market performancecontributed to a decline in international trade activity,limiting demand for industry-relev

36、ant freight transportationsupport services;ultimately these dynamics contributed to a decline in industry revenue in 2019.The outbreak ofCOVID-19(coronavirus)in 2020 caused an initial collapse in global trade,unexpectedly followed by a strongrebound as consumer spending in high income countries incr

37、eased shipping demand.As a result,IBISWorldprojects industry revenue will increase at an annualized rate of 2.2%to$53.5 billion over the five years to 2021,including an increase of 7.6%in 2021 alone.DEMAND DYNAMICSAccording to the International Maritime Organization,an estimated 90.0%of the worlds i

38、nternational trade volume is transported by cargo ships,making ports and marine terminals vital intermediaries in the globalsupply chain.As a result,industry performance is directly linked to global trade growth,which,in turn,is influenced bymacroeconomic factors,such as global consumer spending,man

39、ufacturing output and demographic changes.Inrecent years,advancements in telecommunications technology and the proliferation of free-trade agreements havefueled globalization,resulting in more manufacturing outsourcing,globally integrated supply chains and rapideconomic growth in developing nations.

40、In general,this globalization has supported industry growth over the pastdecade as it has led to a surge in trade volumes,thereby boosting demand for port services.Additionally,thetransition of many retail and manufacturing operators toward just-in-time inventory systems has enabled companiesto redu

41、ce inventory storage costs by only purchasing raw materials on an as-need basis,rather than building upexcess inventory that ends up in a warehouse.As a result,consignments are smaller,but more frequent,increasingdemand for time-critical deliveries,generating greater container traffic.ECONOMIC CONDI

42、TIONSThe industry has experienced a low level of revenue volatility over the fiveyears to 2021.Moderate growth in trade volumes during the first half of the period contributed to a mild growth in industry revenue.However,the global slowdown in global economic growth experienced in 2019 led to lower

43、trade volumes and adecline in industry performance.Major disruptions caused by the coronavirus pandemic during the first half of 2020Global Marine&Container Terminal OperationSeptember 202112IBISWcaused a sharp drop in global shipping volumes as uncertainty and lockdowns diminished demand and short-

44、termexpectations.However,a surge in consumer spending driven by high-income countries quickly reversed this drop.The unanticipated nature of this reversal created various coordination and capacity issues for industry operators asthroughput continued to expand.Port congestion,container shortages and

45、supply chain difficulties created shippingdelays as global terminal operations struggled to respond to these imbalances.These dynamics have continued into 2021 as shipping demand remained at a high level as the global economycontinued to recover from the previous year.While high shipping rates due t

46、o these developments have benefitedshipping companies performance,congestion related expenses have hurt industry relevant port and terminaloperators profit margin.Nonetheless,industry operators have managed to adapt to these challenging conditions.High levels of port and terminal capacity utilizatio

47、n underlie the need for companies to undertake capital expenditurein the near term to meet higher capacity requirements and to manage larger vessel sizes.COMPETITION,PROFIT AND PARTICIPATIONIndustry competition has increased over the past five years asdownstream clients continue to demand faster ser

48、vices and integratedsupply chains.Moreover,growing global shipping capacity needs,coupled with large container ships,has driven many industryplayers to invest in larger terminals and ports to avoid losing out to competitors.At the same time,overcapacity inthe shipping industry has also forced shippi

49、ng liners to reduce ship speeds to save on fuel costs.Instead,linersexpect terminals and ports to make up for increased transit time through faster and more efficient cargo handling.Another response to shipping overcapacity has been the creation of shipping alliances by which liners share shipsand r

50、outes,thereby increasing their negotiating power to where they can ask for lower fees from industry players,thereby increasing internal price competition.Mounting price competition combined with the recent port congestiondifficulties has placed downward pressure on industry profit despite operators