Four medium-sized containers are left behind in the vast consolidation wave which has hit the struggling sector with full force after Japan's three largest carriers, K Line, MOL and NYK on Monday announced a merger of their container operations and overseas container terminals in a joint operating company.
The new Japanese joint venture creates the world's sixth-largest container carrier. According to analyst Lars Jensen of Seaintelligence Consulting, the move intensifies the pressure on the four remaining, medium-sized container carriers which are left standing alone among the 20 largest container carriers.
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