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Consolidation among ocean shipping players has calmed down since the last flurry in 2016 when COSCO and CSCL merged and NYK, MOL and K Line combined to form ONE.
Drewry points out that though these deals significantly decreased the number of players vying for global volume, individual trade routes remain competitive (especially East-West).
It posits carriers may seek to consolidate to achieve greater price stability, especially as scrubber cost and fuel markets make for much more unpredictable waters in the months and years to come.