Splash readers are predicting Cosco, China’s giant state-backed maritime conglomerate, will overhaul Maersk to become the world’s top containerline in the coming decade.
The latest MarPoll, the quarterly online survey carried on this site, launched this week and has been met with record voting numbers to date. With more than 200 votes cast in the first 48 hours since the poll went live, 71% of respondents believe Cosco will top Maersk Line to be crowned the world’s largest liner within 10 years. One reader cited the “strong and cheap credit” available to Cosco making its move up the rankings easier.
Analysts at Alphaliner reported at the end of November that Cosco, aided by the misfortune of its Danish rival, became the largest container carrier for the first time during the third quarter in terms of container liftings.
State-backed Cosco, which merged with China Shipping a couple of years ago, saw its liftings surge 23% to hit 5.49m teu in Q3, surpassing Maersk’s 5.26m teu. Maersk’s quarterly results were hit by a massive cyber attack this summer which hampered operations, volumes and revenues in a significant way. The Alphaliner report only looked at listed companies so MSC, the world’s second largest liner, was not analysed in the quarterly lifting assessment.
Cosco’s $6.3bn bid for Hong Kong’s OOCL will see it draw around level with France’s CMA CGM in the bronze position in terms of the global liner rankings.
Other issues under the microscope in the latest MarPoll look at freight rates in the various sectors for 2018, private equity and the role of Chinese leasors. Voting takes just two minutes and there is no registration. To vote, click here.