When finances are low, a company may improve its situation in many ways. A merger is one possibility. An increased level of cooperation is another. An increase in mergers and therefore, a consolidation of the shipping industry is exactly what will happen in the years to come, a report on maritime transportation from the UN organisation UNCTAD states.
One of the sectors prone for future consolidations involves dry cargo carriers, Bimco Chief Shipping Analyst, Peter Sand, thinks. He thinks so as dry cargo is a market with relatively few barriers, which has resulted in a significantly higher number of companies than what is the case in e.g. the container industry.