International M & A Trends In The Maritime Industry And Shipping Companies In China, Research On The Strategy

In the international shipping industry, the intensive progress is speeded up, mainly due to the globalization of economy and fast development of information techonology. For these enterprises, they are facing not only the narrow domestic market, but also the worldwide market. Enterprises strengthen their competitiveness by collaborating from strategic, tactical level. It is the way to survive and develop in fierce competition and to gain moremarket share in the global shipping market.From last 90's, large-scale mergers and acquisitions (M&A) acticities are taken place in international shipping industry. The main drive of the mergersand acquisitions in shipping industry is to maximize the profit of shareholders, which is the basic target. Mergers and acquisitions among shipping lines introduce new management mechanism to the new enterprise. The new management increases the effectiveness, and the utility of the resource. There is "1+1 >2" effect after the M&A, which means the value of new enterprise is more than the sum of previous two. Comparing with the internal development, M&A has the strength of time-saving (develop faster), low-risk, and expense-saving (economic).This paper aims to deeply analyze the reason of large-scale M&A in international shipping industry, forecast the trends of M&A in global shipping industry, and provide strategic suggestions about how to expand the scale of the enterprise quickly and enhance it's international competitiveness through mergers and acquisitions for Chinese shipping enterprise.The paper begins from the changes of scale-increasing mode of shipping enterprises and the M&A phenomenon existing in the shipping industry, analyzes it's characteristics and the result. Then; gives the reason of these mergers and acquisitions from external and internal, combining the basic theory of M&A, and applys the game theory to further analyze the trend fromstrategic alliance to M&A in international shipping industry. The fourth part gives the operation details of the M&A process, including the way, the method and the integration after M&A, and also a decision model of M&A for shipping enterprises with game theory. In the end, the thesis forecasts the trends of M&A in global shipping industry, and provides suggestions for China's shippingenterprises.