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Even more consolidation of the ocean container shipping industry could be in the future if the new mega-shipping alliances are not able to get more sustainable rates.
Maintaining current rates might be preferable for shippers in the short term, but they will be harmful in the long term, warns David Arsenault, the former Hyundai Merchant Marine CEO. “The next step would be rapid consolidation through mergers and acquisitions that would leave the industry with a handful of extremely powerful shipping lines that could set freight rates at will,” suggests Mr. Arsenault.
The ocean shipping container industry lost $10 billion in 2016, and has not recorded a profit since 2010.
For more information, contact Debbie McGuire, Manager – Freight Solutions.
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| The main government building is a palace constructed of materials taken from another destroyed palace built on the same land. |
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