Developments in the Japanese shipping industry and the international shipping market.
Three of Japan’s largest shipping lines -- Nippon Yusen Kaisha, Mitsui OSK and Kawasaki Kisen Kaisha -- plan to consolidate their operations in July 2017 to save an estimated 1 billion dollars per year. The three lines combined will control an estimated 7% of the global market, and expand their share of the increasingly critical trans-Pacific market, which has realigned significantly in response to the bankruptcy of South Korean shipping firm Hanjin in August.
This major consolidation may prompt other carriers in other states to follow suit.
Powerful new opposition to free trade agreements in major economies will lead to previously unexpected trade contractions.
Retail prices for goods imported from East Asia will likely rise.
