Overcapacity and Falling Freight Rates See More Confusion in Container Shipping Market
Friday, April 29, 2016EUROPE – WORLDWIDE – The European Commission has cleared the proposed acquisition of Neptune Oriental Lines (NOL) of Singapore by rival French shipping company CMA CGM, conditional upon NOL leaving the G6 liner shipping alliance. As we mentioned in our article last week regarding the major collaboration efforts currently underway in the worldwide container freight industry, the G6 Alliance is going to see some drastic changes in its line up with companies being lured into other alliances or mergers, as the lines vie for greater control of the global market share in a time of overcapacity and falling rates. Commissioner Margrethe Vestager, in charge of competition policy, said:
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