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.
Registration takes less than 1 minute.
New ship orders declined in 2016, driven down by overcapacity and sluggish global trade growth, and although devastating for shipyards and their workers, the drop may be necessary if the health of the container liner industry is going to be restored.
The House and Senate have advanced legislation that includes the Water Resources Development Act, which authorizes the U.S. Army Corps of Engineers to dredge ports and maintain locks on inland waterways essential to commerce.
The global shipping consultancy said there will be minimal aggregate multipurpose fleet growth to 2020, due to increased demolition levels in the multipurpose and competing sectors, combined with the decreased number of newbuilding orders.