© Khunaspix Dreamstime.
By Ian Walker
With overcapacity continuing to hurt shipping lines, Drewry expects consolidation among lines and alliances to increase this year, with a view to counteracting yet more vessel deliveries in 2013. There just aren’t the volumes to accommodate the 47 vessels (a 9.8% increase in capacity) that are due for delivery this year. As a result, the industry faces even less sustainability, as freight rates continue to fall. Consolidation may be the only way to take back control.