zoomImage Courtesy: MSC
Driven by a spate of recent shipping industry consolidation moves, the combined capacity share operated by the Top 10 carriers reached a new record in 2017, according to Alphaliner.
Increased market concentration has led to a rise in the major carriers’ combined capacity share, which stood at a record high of 77% at the end of the year.
The consolidation spree was capped by the completion of the Hapag-Lloyd acquisition of UASC in May and Maersk’s acquisition of Hamburg Süd at the end of November.
Alphaliner said that this figure is set to continue rising to reach 82% with the impending absorption of OOCL by COSCO and the merger of K Line, MOL and NYK to form Ocean Network Express (ONE).
The top three carrier postitions in the global operator rankings are still being held by Maersk, MSC and CMA CGM.
However, COSCO and Hapag-Lloyd have closed the gap through consolidation moves in the last two years. Following the completion of acquisition of OOCL, COSCO is expected to leap into the number three spot, Alphaliner commented.