COSCO may make a bid of more than $4 billion for Hong Kong-based Orient Overseas Container Line, according to various media reports.
The deployment of ultra-large containerships has not only increased average vessel size on key east west trades, but has accelerated the consolidation of carriers into vessel sharing agreements and alliances.
The container freight market is strengthening as carriers begin some 2017 negotiations, and Drewry said some shippers could see contract rates rise 20-40 percent in worst case scenarios.
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The transportation and logistics industry has experienced a notable year between Hanjin’s bankruptcy, the new verified gross mass regulation and the expanded Panama Canal.
Jakob Stausholm, chief financial officer at Maersk Line, said the Danish ocean carrier's gains in market share, utilization, and lower unit costs have been overshadowed by very low freight rates.
Hayes Howard, CEO of BlueWater Reporting, has analyzed recent occurrences in the container shipping industry regarding HMM’s bid to join the 2M Alliance, along with Korea Line’s purchase of certain Hanjin assets.