Shipping has witnessed a major structural change, and here’s what industry leaders thought of it.
Watch the video or read their responses below.
What do you think about the consolidation within the industry?
Christopher Rex, Head of Research, Danish Ship Finance
“I’m a bank, I’m paid to have big thoughts on consolidation, but… I think, first of all, it’s necessary. I think its impact industry-wise is quite massive since the capacity of the big liners are increasing and therefore the need for chartering vessels are shrinking basically.
“A lot of tonners could risk being overturned to their owners when their charter period runs out. I think that’s the main concern, that the vessels are being returned and potentially sold if there are no employment to find at significantly lower levels and container evaluations.”
Niklas Holck, Managing Director, Costamare Shipping Company
“Mature industries consolidate and shipping is certainly a mature industry. We’ve seen it particularly among liner companies, and we’ve also seen it on the ship-owning side. It’s also a positive development because we can pull our resources together.
“This digitalisation and transformation is not going to be cheap and it’s not going to be easy either. So, if we have bigger companies with more resources to focus on this, I think it’s good for everybody.”
Lars Jensen, CEO and Partner, SeaIntel Maritime Analysis
“I think we reached more or less a logical in point among major carriers. We have a small group of super-carriers that are going to remain for many, many years to come. They are not going to be allowed to buy each other – it wouldn’t make sense either, if they did.
“Then we have a large amount of niche carriers and there’s still a bit room for them. We’ll likely see some consolidation among the smaller ones, but the big push towards consolidation? That is almost over now. What the carriers will now be competing on in the next couple of years is their ability to integrate all these mergers and acquisitions.”
