If OPEC looks out to sea it will find a kindred spirit. Both the oil industry and global trade have been ransacked by a collapse in global demand, with oil producers and the shipping sector employing strategies to restore balance.
While an alliance of ocean carriers has been keeping freight rates stable, there is a difficult journey ahead before they are seen as flag bearers for market management.
Carriers moved fast and decisively to reduce overcapacity and prevent a dramatic drop in freight...
https://blogs.platts.com/2020/05/11/container-shipping-opec-market-management/