Mediterranean Shipping Co (MSC) president and chief executive Diego Aponte says containership consolidation has not been sufficient to transform the market.
He describes the scale of merger-and-acquisition activity as good but not enough to “turn things around”.
The big mergers have “happened already”, although Aponte says smaller-scale consolidation could still take place.
Speaking to TradeWinds at the Mercy Ships Cargo Day charity ball in Geneva, the MSC chief described the freight market as “depressed” as bunker prices are rising and the charter market is“going through the roof”.
