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Across the maritime sector, from containers to tankers, from ship owning to ship management, market forces continue to incentivise mergers and acquisitions. Some pursue market share, others seek the scale and market capitalisation to attract long term investors, all are contributing to a changing industry. Lloyd’s List has the latest insights on the impact of consolidation on the wider industry and keeps a weather eye out for the answer to the all-important question: Who is next?
As governments and industry continue the struggle against crew kidnappings of West Africa and cargo thefts in Southeast Asia, questions have arisen over the highest profile victory of piracy. After five years without incident, piracy off the coast of Somalia may have breached its containment. Increased security comes at a price, and the industry is in no position to increase its operating costs, but some indicators on land in Somalia suggest the region could incubate a piracy resurgence.
All around the industry businesses are on the lookout for the disruptor. The ethereal threat of a tech-led business overturning the industry, rewriting its rules and shifting its balance of power could come from within, or from one of the established tech giants with sprawling logistics businesses.
Maritime trade in transition
Geopolitics and technology are conspiring to push transition maritime trade routes, overhauling trades taken as fundamental for decades. America’s determination to unlock its tight oil reserves overturned its long standing crude export ban, and the nation’s gas production is altering gas trade balance.
For the maritime industry Brexit raises questions over the new relationship between the UK and EU, how goods and passengers will be handled at the new border, the future status of employees currently in the UK, the effect on future recruitment into the UK and the ability of insurance and financial institutions to carry out their business in Europe to name but a few.
Cities the world over are polishing their offerings to the maritime sector in a bid to attract the industry’s cash, jobs and expertise. Companies have an unprecedented choice of viable locations for their offices, and maritime cities are doing their utmost to alter policy and market their strengths to attract business. Lloyd’s List brings the truth behind the marketing efforts, gauging the actual strengths and weaknesses of a maritime cluster, to help your business decide where it needs to be.
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