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OOCL expects companies to struggle desperately to survive

Cosco's Hong Kong carrier OOCL projects fierce competition to prevail in 2019, further consolidation to occur and some companies having to struggle desperately to survive, OOCL spokesman, Director of Trade Stephen Ng tells ShippingWatch.

Photo: Bloomberg

Although consolidation has reduced the number of container carriers and alliances substantially over the last couple of years, the market seems to be far from a state of equilibrium with less competition.

That is at least if you ask Cosco's Hong Kong arm, container carrier OOCL, who presented its fourth quarter results last week giving the first indication of how 2018 has developed for the entire box industry.

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