Why sail solo? That's the question France-based CMA-CGM is asking, as the world's fifth largest container-ship company braces for a storm of industry consolidation. The fragmented shipping business, with more than 30 international players, is consolidating as fuel prices soar and the number of ships, boosted by expanding Chinese production, is increasing faster than the volume of trade. Says CMA CEO Jacques Saadé: "[Big] shipping companies have made good profits over the past few years; they have the means to buy smaller companies." CMA had $4.95 billion in revenues last year and has been expanding rapidly, particularly in China. To that...
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