Major Changes to the Shipping Landscape in 2017
Just so you know where we are, there were major changes in the shipping industry in 2016.
Moving into 2017 these are expected to make an impact on global shipping.
So what is happening globally will affect ‘little old New Zealand’.
Let’s look at 2016 first.
Hanjin, the eighth largest carrier in the world, went into bankruptcy in the middle of the year. Over 400,000 containers were caught-up in their melt-down.
COSCO and China Shipping, China’s two largest carriers, merged.
MOL, NYK and K-Line, Japans three largest Japanese carriers, announced their merger. This merger expected to take place progressively over the next few years reducing three lines to one.
CMA CGM purchased APL Line.
Last but not least Maersk are in the process of acquiring Hamburg Sud.
None of these changes will be positive for New Zealand importers.
Reduced competition, possibly capacity never is.
Vessels into New Zealand are already chocker-block.
Where there was once about ten lines competing, we will be down to under half that.
More cherry news to come.
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