The major container-liners have pursued a self-help strategy so far in 2018, raising rates via the use of emergency bunker fuel surcharges in response to higher costs. They have also started to look ahead to passing the cost of tighter sulfur emissions to their customers. Capacity issues will continue to be a challenge in the near term though – Maersk and MSC may restart a China-Europe service despite falling rates. Consolidation via mergers or acquisitions as a longer-term response does not yet appear to be at the top of the agenda despite the recent decline in the sector’s profit margi...