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To our valued customers,
2016 has seen significant changes in the world of container shipping lines and is not over yet. This week, Kawasaki Kisen Kaisha (K-Line), Mitsui OSK (MOL) & Nippon Yusen Kaisha (NYK) have agreed to establish a new company by integrating their containership and terminal (excluding Japan) businesses. The decision to integrate came on the back of low oil prices, sluggish cargo demand, oversupply of trade capacity, and container freight rates at historic lows.The new joint name is still to be confirmed.
The integration will start on the 1st of April 2018 and will see a combined fleet size of approximately 1.4 Million TEU & 6th in the market with approximately 7% of global share.
Early this year, Cosco & China Shipping also announced their plans for re-structuring and consolidation of services & assets & we may well see further merges in the future especially in light of the demise of Hanjin Line. Other recent merges also included UASC with Hapag Lloyd.
Keeping you updated,
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