Container Sanxiong was fined more than 400 million yuan by South Korea, and the legal person believes that the impact is minor. (file photo)
[Reporter Wang Yihong/Taipei Report]The South Korea Fair Trading Commission (KFTC) announced on the 18th that it would impose a fine of 96.2 billion won (about 81 million US dollars, 2.24 billion Taiwan dollars) on 23 airline companies, of which 12 South Korea and 11 from Star, The shipping companies in Hong Kong and Taiwan, and the three containers, Evergreen, Yangming, and Wanhai are all on the list. In this regard, the legal person believes that after the freight rate began to rise sharply, China and the United States have launched several investigations against the shipping companies, but no results have been obtained. The port congestion has not eased, and the fine has a slight impact on the profits of Container Sanxiong.
Affected by the news, the stock price of Container Sanxiong fell today, with an intraday decline of 1-2%.
The local legal person pointed out that the Korea Fair Trade Fair punished 23 airlines for the joint price increase in freight rates from South Korea to Southeast Asia from 2003 to 2018. Among them, Wan Hai was fined NT$290 million, and Evergreen was fined about NT$79 million. , Yang Ming was fined about NT$56 million. Compared with the profit in the past two years, the impact of this fine is slight. Secondly, the airline will file an administrative lawsuit, which will lead to investigations in the United States, the European Union and China. However, from September 2020 After the freight rate began to rise sharply, China and the United States initiated several investigations against the airline companies, but no results were obtained. At present, the congestion in the port has not eased, and the freight rate remains high. The target price is 220 yuan.
Another legal person said that the three airlines have not yet received the disciplinary letter, and will not rule out legal remedies to safeguard the company’s rights and interests. If the three domestic airlines were fined about 56 million yuan to 290 million yuan, compared with the scale of profit of more than 100 billion yuan in 2021, the impact of this fine on the company’s operations is still limited. In addition, investigations of relevant anti-monopoly behaviors have occurred several times in the container shipping market. However, the operation mode of the container alliance is still determined to be not directly related to the control of market freight rates, so the final judgment of this incident remains to be seen.
The legal person pointed out that in terms of industry fundamentals, due to the repeated rise in the international epidemic situation, the port quarantine measures are still stricter, resulting in no significant improvement in port operation efficiency. In addition, it is the peak season for rushing goods before the Lunar New Year, and the port congestion situation has not been resolved. Research institutions believe that the port congestion situation may continue to the first half of the golden year, and the contract price level of the America Line in 2021 is relatively low. It is expected that the contract price of the America Line will have a higher chance of rising in 2022. , the spot freight rate in the second half of the year may have a greater risk of downward shocks.
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