China’s state-owned shipping giant Cocso Shipping is to work with Hainan province to jointly promote localised shipping and port asset optimisation and consolidation.
China Merchants Industry Holdings (CMIH) has signed agreement with Sinotrans-CSC China Changjiang National Shipping Group to take over Nanjing Jinling Shipyard and Wuhu Jiangdong Shipyard from the start of 2019.
Fujian-based container logistics service provider Antong Holding plans to purchase 100% equity of Guangxi Changrong Shipping Company.
In a $1.65bn deal Capital Product Partners LP and Diamond S Shipping are merging in a major consolidation in the product tanker space. The latest deal creates a platform for existing shareholders of Diamond S, which also include First Reserve a backer of shipping company IPOs in the 2005- 2007 boom period, to create liquidity.
Hapag-Lloyd says that size is no longer the name of the game in container shipping with consolidation becoming less attractive in the sector as it sets out its strategy to 2023.
The availability of capital, both equity and debt, is a perennial discussion and has two particular areas of focus at present - for consolidation and green loans for retrofits to meet environmental regulations.
In the latest consolidation in the offshore vessels sector Nordic American Offshore (NAO) is looking to merge with Horizon Maritime Services.