THE MERGER of Cosco and OOIL came as a surprise to few in the container industry, coming as it did after months of rumours.

The deal is significant to the container shipping sector. Generally well-received by analysts, the merger will create what one senior Maersk executive has hailed as a "hard-to-beat competitor".

Hear Lloyd's List executive editor Janet Porter share her thoughts with BBC World News in the video, with further context below.

BBC World News: Janet Porter 2017-07-10 from Maritime intelligence on Vimeo.

The merger is the latest in a series of moves that have helped consolidate the industry and create a handful of lines with significant market shares. This consolidation comes after a prolonged downturn in the industry, and a battle between container lines for market share that has suppressed freight rates and brought huge financial losses across the sector. See our recent history of consolidation below.

Consolidation timeline - a look back at the key events
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