The likely entry-into-force of the WTO’s Trade Facilitation Agreement this week will reduce bureaucracy involved in shipping goods. It comes at the same time as new shipping platforms from BHP Billiton and Deutsche Post DHL, Amazon’s move into ocean shipping, the increased use of blockchain technology and Maersk’s deal to sell empty container space via Alibaba. This raises the risk of disintermediation for the long tail of smaller NVOCCs. There has been some organic consolidation already, with 24 of the top 30 NVOCCs growing volumes on U.S.-bound lanes more quickly than the industry over...