Thursday, July 9, 2009

Ocean Carriers bankrupt or taken over 1980-2005

This comment in the Journal of Commerce article started me thinking

(In reference to the carriers whining they need higher rates)...
At issue here appears to be the ability of shipping lines to convince customers that if they do not pay increased rates, carriers will further downsize their services to save money, and shippers will face capacity constraints.

If the problem persists, bankruptcies and an unhealthy level of consolidation in the liner shipping industry are inevitable, carriers maintain.

I think all of the managers must be under 40.

Below is a list I came up with just off the top of my head.

Many liner carriers (meaning shipping carriers who offer regular scheduled service) have gone bankrupt. Obviously, today there is no problem with capacity or competition.

Whoever is speaking for the carriers need to study the history of the industry, before they open their mouths.

1) Seatrain 1929-1981

2) Moore-McCormick 1913-1982 click here for an account of their decline

3) United States Lines 1921-1992

4) Ivaran Lines 1902-1998 taken over by CP Ships

5) CP Ships 1884-2005 taken over by Hapag-Lloyd

6) Sealand 1960-1999 (Taken over by Maersk)

These are others I can think of, but many were National Carriers.

Argentine Line
Peruvian Line
Grace Line
Lloyd Brasileiro
Pacific Australia Direct
Karlander Kangeroo

I may have to pull out my coffee mug collection to come up with other names.

If you can think of more, please note in comments.


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