Hanjin collapse may hasten consolidation in shipping

Hamburg

THE collapse of Hanjin Shipping Co will probably spark fresh consolidation among container lines as they attempt to ride out the shock waves buffeting the industry, Hapag-Lloyd AG chief executive officer Rolf Habben Jansen said.

"A lot of people hadn't expected the difficulties for Hanjin in the magnitude we have seen them," he said in an interview in Hamburg on Tuesday. "It will change behaviour," with some participants now assessing whether it might not be better to "team up," he said.