[181217.EN.BIZ] Poll Predicts Cosco to Overtake Maersk in Coming Decade

SINGAPORE's online shipping news Splash 24/7 readers are predicting that China's giant state-backed maritime conglomerate Cosco will overhaul Maersk to become the world's top containerline in the coming decade.

The quarterly online survey Marpoll launched this week met with record voting numbers to date. With more than 200 votes cast in the first 48 hours since the poll went live, 71 per cent 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.

At the end of November analysts at Alphaliner reported 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 per cent to hit 5.49 million TEU in Q3, surpassing Maersk's 5.26 million 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 US$6.3 billion bid for Hong Kong's OOCL will see it draw around level with France's CMA CGM in the third 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.

Source : HKSG.