Latest news from Heavy Lift & Project Forwarding International Magazine

Container market remains competitive

As the container market remains competitive, global shipping consultancy Drewry says there is potential for more merger and acquisition (M&A) activity.

The collapse of freight rates during the second half of last year was out of line with the underlying supply and demand fundamentals, says Drewry. This suggests that carriers have not yet rid themselves of certain self-sabotaging traits and that talk of a new golden age for carriers was perhaps exaggerated.

Despite the recent developments, in the latest Container Forecaster report, Drewry retains its view that the carriers are heading towards a brighter future, while also acknowledging there are several temporary factors that have created a bump in the road to recovery.

One area that might have been expected to provide a more immediate benefit was the significant consolidation occurring in the market. Although, on reflection, its limited impact is not that surprising as the latest wave of consolidation has barely become operational, says Drewry, with most transactions either just concluded or still pending.

Even after all of the latest deals are finalised, Drewry predicts that they will not have sufficient weight to move the industry all the way to being a non-collusive oligopoly, which it previously outlined as being necessary to herald a new era of 'liner paradise.'

Drewry adds that it perhaps overlooked the risk that the merger activity would make some acquisitive companies more aggressive with their pricing, to minimise customer attrition.

 

www.drewry.co.uk

Heavy Lift | News

Multipurpose rates edge up thumbnail image

Multipurpose rates edge up

October 19 - Time charter rates in the multipurpose shipping sector have increased over the last month, according to the latest data from shipbroker Toepfer Transport.
Views: 549
Meriaura adds dry cargo duo thumbnail image

Meriaura adds dry cargo duo

October 18 - Finland's VG-Shipping, part of the Meriaura Group, has acquired two 4,100 dwt dry cargo vessels.
Views: 646
ChartCo partners with MeteoGroup thumbnail image

ChartCo partners with MeteoGroup

October 17 - Global supplier of maritime and digital data and compliance services, ChartCo, has selected MeteoGroup to provide its weather routing technology services through its OneOcean platform.
Views: 663
GeoSea wins Borssele contract thumbnail image

GeoSea wins Borssele contract

October 16 - ├śrsted has awarded GeoSea, part of the DEME Group, a contract for the transportation and installation of 94 foundations for the Borssele 1 and 2 offshore wind farms in the Netherlands.
Views: 1089

Heavy Lift Across The World

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