Intense competition for freight volumes, declining spot rates, the looming threat of overcapacity as the Red Sea situation normalizes, and recent management shifts in key positions—whether to 'drive change' or 'simply restructure existing assets'—all point to a scenario where cash-rich ocean carriers might find it more advantageous to acquire rather than build new capacity. This is the prevailing sentiment within our market. But is it truly the case? While their under-leveraged balance sheets appear secure for the remainder of this year and into early next, the question remains.