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World's shipping firms are going super-sized

A massive consolidation is underway in the $500 billion global industry

Kyunghee Park | Bloomberg 

The hulking container ships that transport sneakers, bananas and barbie dolls around the world keep getting bigger. So are the companies that own them.   A massive consolidation is underway in the $500 billion global industry and the survivors now enjoy big economies of scale and increased demand, one year after excess capacity caused the sector’s worst-ever crisis — the bankruptcy of South Korea’s Hanjin Shipping.   Asia’s largest container line, China’s Cosco Shipping Holdings, last month said it would pay more than $6 billion for rival Orient ...

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First Published: Thu, August 17 2017. 02:29 IST
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