Pandemic Sparking Shipping Consolidations

Wilson Borg

The coronavirus pandemic is expected to drive some consolidation within the shipping industry and in one of the first cases Norway-based Wilson and Germany’s Arkon, both short-sea operators in the European trades, have agreed to merge. The agreement, which is subject to several approvals, is expected to close before the end of the year and will see Bergen-headquartered Wilson take on Arkon’s long-term leases of 20 bulk carriers, including two newbuildings, to bring its fleet to more than 130 owned and chartered vessels, creating Europe’s largest short-sea operator.

By Pacific Maritime