Further carrier mergers may do no good, but is there any choice? Sea News Despite the current wave of mergers, London's Drewry Maritime Research doubts much good will come of further consolidation because it would only lead to the sector's massive overcapacity falling into fewer hands. Yet with 55 per cent of the market in the hands of five top carriers this poses an existential threat to the numerous yet much smaller surviving carriers, now left with little option but respond with further consolidation. But such tendencies are countered by subdued valuations, making such options less appealing, said Drewry. The union of CMA CGM and APL, and the expected Cosco-CSCL merger help the newly expanded liner companies close the gap on Maersk Line and Mediterranean Shipping Co at the top of the rankings. This is will mean that the top five largest carriers will control 55 per cent of the world's container fleet.

Paradip Port Trust logs 6% cargo growth Business Standard Paradip Port Trust (PPT) has recorded 6.13 per cent in its cargo throughput at 52.6 million tonne (mt) during April-December (till December 18) as against 49.56 mt handled in the same period of last fiscal. The cargo traffic handled by the port is the second highest among all major ports after Kandla port. The port also showed significant improved in efficiency parameters in this period, thereby reducing the logistics cost of cargo exported and imported through the port. The average detention time for a ship at the port stood at 4.92 days in the period declining 25 per cent from 6.58 days in the year-ago period. Also, the average ship-day productivity rose 14 per cent from 17183 tonne to 19646 tonne. The number of cargo vessels handled rose from 960 to 1061, an increase of 10.52 per cent. Even though the number of vessels handled in the port has been increased along with the quantity of cargo handled, Logistics Chennai,International Freight Forwarders in Chennai, Custom Clearance Agents in Chennai , Checkout http://www.jupiterseaair.com