Consolidation in the logistics industry has slowed markedly in 2018. S&P Global Market Intelligence data shows there were 117 transactions globally in 2Q 2018, down 25% vs. the first quarter and a year earlier. The decline has been most marked in the marine shipping segment (down 42% sequentially) with CMA-CGM’s purchase of Containerships one of the few significant deals. The freight forwarding sector remained the most active (45% of all deals) but have remained small scale, typified by DP-DHL’s bolt-on deal with Suppla. More ambitious consolidation is needed given the fragmentat...