Global shipping lines recovering from downturn
A massive consolidation is underway in the US$500 billion industry and the survivors now enjoy big economies of scale, increased demand and lucrative rates
Singapore
THE hulking container ships that transport sneakers, bananas and barbie dolls around the world keep getting bigger. So are the companies that own them.
A massive consolidation is underway in the US$500 billion industry and the survivors now enjoy big economies of scale, increased demand and lucrative rates one year after excess capacity caused the sector's worst-ever crisis - the bankruptcy of South Korea's Hanjin Shipping Co.
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