The middle of the year saw capacity in the market passing the 20m teu level as ultra-large containership tonnage continued to be delivered. Combined with a background of slower trade and low and volatile rates some have struggled to survive. Hyundai Merchant Marine (HMM) just managed to survive while Hanjin Shipping, the world’s seventh largest container line, rocked the market at the end of August filing for court receivership.
It has also sparked a wave of consolidation with CMA CGM acquiring Neptune Orient Lines (NOL) and Hapag-Lloyd merging with United Arab Shipping Co. This in turn precipitated a major shake-up in the structure of the industry’s global alliances.
We review the market shaking events of the last 12 months and take a look at what is to come next for container shipping in this White Paper. To download the White Paper please click below.