Latest news from Heavy Lift & Project Forwarding International Magazine

More mergers and acquisitions says Drewry

August 19 - Poor first half results in container shipping in the first half make it more likely that more merger activity can be expected, says London's Drewry Maritime Research.

First half revenue from Maersk, Hapag-Lloyd, MOL, NYK, OOCL, and "K" Line, was down by 18 percent on average, notes Drewry's Container Insight Weekly.

If this persists for a full year, carrier income would fall USD29 billion against 2015, below the record lows of 2009, said Drewry analysts.

"With carriers waving goodbye to likely more than USD50 billion of sales in two years since 2014 - in 2009 the sales reduction was about USD66 billion in just one year - it should be no surprise that most of the big players are losing money and that some are close to the financial abyss, or that a number of lines are merging in order to better prepare for such hard times," Drewry added.

After years of little M&A activity, there has been much recent action such as the merger of Cosco and China Shipping, French carrier CMA CGM buying NOL/APL, and Germany's Hapag-Lloyd merging with UASC.

Said Drewry: "On top of all that, carriers have developed bigger alliances to pool their resources and try and find more cost savings. All of these moves are defensive strategies forced upon carriers by the weak state of the market."

www.drewry.co.uk

Heavy Lift | News

ESTA joins EC best practice project thumbnail image

ESTA joins EC best practice project

July 16 - The European association of abnormal road transport and mobile cranes (ESTA) has been asked to support a European Commission study to “explore health, safety and environment (HSE) best practice in the wind power sector”.
Views: 379
LDA installs kite system  thumbnail image

LDA installs kite system 

July 16 - Louis Dreyfus Armateurs (LDA) has fitted its ro-ro vessel Ville de Bordeaux with an AirSeas kite system, as it looks to develop the use of wind propulsion technologies.
Views: 362
Sarens partners with Moir Crane thumbnail image

Sarens partners with Moir Crane

July 16 - Sarens has teamed up with Canada’s Moir Crane as the two companies look to capitalise on the region’s upcoming construction projects.
Views: 397
Karl Gross teams up with Natco thumbnail image

Karl Gross teams up with Natco

July 15 - Bremen-headquartered Karl Gross Group and Natco SA have formed an exclusive partnership in South Africa.
Views: 566

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.