Yang Ming Rules Out Merger
The chairman of Taiwan's Yang Ming Bronson Hsieh has ruled out a merger with a boxship rival.
According to him, the world's ninth-largest shipping firm has never considered the possibility of merging with another operator and does not intend to do it now.
Over the past 10 years, the five shippers with the highest profit margins have been smaller players. Smaller companies do not necessarily have to be merged, he said.
He expects the global oversupply causing a severe downturn in the shipping industry to ease in 2017.