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.
Danish shipping company Maersk Line and Chinese e-commerce marketplace Alibaba teamed up to provide sellers direct bookings with the container line, marking another development in the rapidly changing ocean freight procurement space.
Japan's three largest ocean carriers said Monday in Tokyo they will merge their container operations in mid-2017 to form what would be the sixth largest line, continuing a recent trend of industry consolidation.
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.