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Søren Skou: Acquisition wave will continue

There will only be 5-6 major container carriers left 10 years from now, says Maersk CEO Søren Skou in an interview with Financial Times.

The merger wave among the major container carriers is not over yet, says Maersk Chief Executive Søren Skou.

He expects that the sector will consist of 5-6 carriers once consolidation is complete in a sector, in which eight of the 20 largest deep-sea container carriers have been taken over, while one carrier, Hanjin Shipping, has collapsed.

"My prediction would be that the industry would consolidate further. A decade from now, we would be more in the five to six range," Skou tells the Financial Times.

One of the drivers in the mergers seen in recent years has, according to Skou, been that governments have in numerous cases withdrawn their support for carriers in the Middle East and Singapore, just as South Korea opted not to support Hanjin Shipping when the carrier went bankrupt last year.

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"For Maersk Line, it is never great to compete with somebody who by definition can't go bankrupt," says Skou.

English Edit: Daniel Logan Berg-Munch

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