SINGAPORE (BLOOMBERG) - Swim or sink: That's the message shipping executives in Asia are taking into the new year. Faced with a prolonged trade slowdown and depressed freight rates, the region's container lines are set for further consolidation after a year that's seen the collapse of South Korea's Hanjin Shipping Co, a mega merger among Japanese rivals and the sale of Singapore's shipping flagship. With capacity in excess, firms will continue joining forces to cut costs and improve efficiency, according to the heads of AP Moller-Maersk and Hyundai Merchant Marine Co. "It will be another difficult year," Hyundai Merchant chief executive officer Yoo Chang-keun said in his New Year's speech to employees. "Global shipping companies are preparing for the long battle in the shipping industry through M&As and government support." An overly optimistic outlook of trade recovery fo...