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| News | Location: Home-Industry dynamics |
With the curtain of the reform of state-owned enterprises, with the merger of North and South car as the representative of the central enterprises reform is carried out like a raging fire. In this context, the shipping industry downturn, provide power for industry reform. The market about four shipping central enterprises (China COSCO, CSCL, and long group, China Merchants Group) the expected integration is on the rise.
According to Wind statistics, as of April 15th this year, a total of 24 shipping companies released a report or forecast in 2014, operating income to achieve positive growth, net profit is only one company losses, 23 companies achieve profitability. Although last year most of the shipping listing Corporation performance with low prices to achieve results stand up, but the shipping industry market structure has not improved pile up in excess of requirement.
"Securities Daily" analysis of the article said, the shipping industry should also seek to maximize resources and the right to speak "through the merger of North and South car model", freight business or for integration of the preferred targets. The Milky Way Securities Research Report also pointed out that, the shipping industry reform and restructuring is one of the main investment industry in 2015.
In 2014, Chinese Yuanyang and CSCL signed a strategic cooperation framework agreement, will be through the establishment of strategic alliance, to carry out joint cooperation, coordinate the allocation of resources, mutual supply of service providers, to develop customers, develop new markets, the establishment of a comprehensive strategic partnership in shipping, port, logistics, shipbuilding and other fields, the establishment of the development of resource sharing mechanism.
In addition, the integration of Sinotrans Group and CSC group since 2008 began. In 2014, Sinotrans and China Merchants Steamship joint venture ChinaVLCC and merger of their VLCC fleet, but also can be regarded as a successful attempt to reform.
COSCO Group Chairman Ma Zehua said, will be the integration of resources inside and outside of the shipping market competition will become the norm, the enterprise cross-border integration promote the development of the shipping industry norm, but aviation enterprises integration decision is not in the hands of the enterprise.
The interface mentioned in the news since 2008, since the financial crisis, the global container shipping market downturn, the ship continued order result in excess capacity, therefore, some shipping companies began to form alliances, enhance competitiveness. After large ships, shipping cargo capacity is limited, coalition, by way of joint dispatch of ships, increase the route density, increase the route frequency, improve operational effectiveness.
If the shipping copy "the merger of North and South car model", it does a lot of good. But at the same time, will lead to negative effects can not be ignored.
According to "finance and economics" the article points out, ten years CSR CNR has developed a large number of mature two or three subsidiaries are independent legal entities. Even if the merger of the two, to receive orders from the overseas market, but the subsidiary competition still cannot avoid. The competition will push up the industry capacity, resulting in excess and internal friction.
Even more worrying is that, with 80% of the domestic market monopoly, will make the enterprise operation efficiency, quality of products and services will inevitably decline.
"Competition can bring efficiency, rather than let the enterprise merger lead to inefficient monopoly, let them compete with each other." The British Standard Life Group Chairman Qin Zhitao (Gerry Grimstone) said to "finance" reporter. During the Thatcher administration, he served as assistant secretary of the Treasury, "the British experience tells us, if we want to promote innovation, competition is the best way. Even if the starting point and the situation Chinese and Britain are not the same, I still think it should strengthen the competition of enterprises merger rather than split.
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