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Maersk Line, the world’s largest ocean carrier, has agreed to acquire the German container shipping line Hamburg Süd, the seventh largest container shipping line.
This is the latest in a series of consolidations that is significantly reducing the number of ocean carriers. Over the next few years, industry experts predict that the 20 largest global carriers could be cut down to just a handful. The top five ocean carriers now control over 50% of the world’s containership fleet. These developments, in the long run, could mean higher prices for ocean freight shippers.
For more information, contact David Lychek, Manager – Ocean & Air Services.
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