The large container-liners took an even tighter grip over the U.S.-inbound market in June. Total volumes handled increased by just 1.9% on a year earlier. That represented a marked slowdown vs. May, as outlined in Panjiva research of July 10. Most of the top 10 shippers outperformed this, Panjiva data shows. COSCO Shipping (as a result of its purchase of CSCL) and Hyundai Merchant Marine (having assumed much of Hanjin Shipping’s responsibilities) expanded the most rapidly the way.

Maersk’s late-month troubles resulting from the Petya computer virus do not appear to have hindered it unduly with volumes that increased 6.9% on a year earlier and 1.5% on the prior month. The most significant decline among the big shippers was from K-Line, which fell 15.4% on a year earlier. That may reflect ongoing traffic shifts within THE Alliance and ahead of the operational start of the merged ONE container-liner with NYK and Mitsui-OSK.

Vertical axis compares volumes handled this month vs. the previous month, horizontal vs. the year earlier.Total includes whole industry. Source: Panjiva

The only major shippers to lose market share in the past quarter on a year earlier were Hapag-Lloyd and ZIM. The former has been in the process of completing its takeover of UASC, and may see a recovery once the merger integration is complete. ZIM has continued to struggle throughout the quarter, but has tktk.

The increasing gulf between the major shippers and the rest can also be seen on a “post deal” basis with the creation of ONE, Maersk’s takeover of Hamburg Sud and COSCO’s proposed takeover of Orient Overseas. The “new big five” would have had a 39.3% market share in the past quarter, and would have added 2.98% point on a year earlier organically. That compares to 31.1% share currently and a 2.05% point addition.

Chart shows market share of U.S. bound shipments in past three months compared to the change in that share vs. the same period a year earlier. Source: Panjiva

That consolidation of market power, while still low in comparison to other capital-intensive industries, may act against COSCO’s bid for Orient Overseas. The combined entity would have a top three market position in nine routes (including China) vs. four on a stand-alone basis for the two. That may lead regulators in the U.S. to take a firmer stance with that deal than the others preceding it.

CLICK CHART FOR LARGER VERSION. Chart shows U.S.-bound TEUs in past quarter segmented by carrier and country-of-lading. Dark blue, white shows minimal presence. Header colors indicate alliance membership Source: Panjiva