Large-scale Japanese merger
Japan's three biggest shipping groups, K Line, NYK, and MOL, will merge their container businesses and terminals in joint unit which will be the world's sixth-largest container carrier.
Maersk Line under pressure
Maersk Line suffered a deficit of USD 116 million in the third quarter against a profit of USD 264 million in the same period last year, and the liner carrier now expects a deficit for 2016 overall. But the global consolidation in the container industry will not in itself impact the industry's major overcapacity issues, said Maersk Line CEO Søren Skou , who sees only tentative signs of recovery among the hard-pressed carriers.
DSV upgrades guidance yet again
Logistics group DSV delivered growth yet again in the third quarter. The company's revenue grew to USD 2.53 billion against USD 1.84 billion in the same quarter last year, while the result of primary operations before one-off items grew to more than USD 150 million.
Challenging quarter for tanker players
Interim reports from tanker carriers such as Euronav, Ardmore, Teekay Tankers, and DHT Holdings confirmed a weak third quarter for owners and operators in crude oil and product tanker.