Shipping industry: Business alliances key in crisis survival
When the things are going really bad for the shipping industry, it does make sense to make a friend out of an enemy to stay afloat. Bharti Shipyard, India's premier ship building company, has just bailed out its rival Great Offshore with a much needed credit line to clear off their dues with creditors. Also, Offshore rivals Mercator Lines and GE Shipping are now friends pooling in a rig for at least three years to maximise operational benefits.
