Maersk Sealand Projects Container Rate Rise

Tuesday, February 06, 2001
Maersk Sealand, part of Danish A.P. Moeller shipping and oil group, expects container rates to rise on the world`s main routes despite an economic slowdown in the U.S. "We are talking about increasing container rates by $525 per container from Asia to the U.S. We do expect higher rates from Asia to Europe and from Europe to the U.S. this year," Jesper Kjaedegaard, Maersk Sealand deputy director, said.

Kjaedegaard`s remarks echoed uncertainty over a possible looming U.S. recession denting world trade and with it container traffic. Investment fund Carnegie World-Wide has halved its five percent stake in Moeller company D/S Svendborg to 2.5 percent due to the gloomy U.S. outlook, Danish financial daily Borsen said on Tuesday. "We believe the company will suffer relatively badly if U.S. economic growth really slows down. A downturn will negatively affect freight rates as well as oil and dollar," the fund said. "We have taken our precautions against whatever situation might occur," Kjaedegaard said but did not elaborate. Kjaedegaard added that last year`s double-digit growth in U.S. container volumes is over.

"January figures nonetheless showed a marginal growth in traffic to the U.S. We still see a growth scenario of a few percentage points," Kjaedegaard said. Maersk Sealand is at present working on reducing costs following Maersk Line`s acquisition of U.S. Sealand`s international container activities in 1999. Danish media have recently speculated that Maersk Sealand might be poised to build a new 10,000 teu (twenty-foot equivalent unit) super container, with the aim of increasing efficiency and cutting costs. The line`s biggest container vessel is 6,600 teu. Kjaedegaard declined to comment on the media talk. Maersk Sealand`s fleet grew 12 percent in 2000 to 297 ships totaling 694,000 teu, according to French shipping consultancy BRS Alpha liner. - (Retuers)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

Cenac Marine to Christen New Vessel, Donate Barge

A ceremony will be held July 29 at Cenac Marine Services headquarters in, Houma, La. To commemorate the christening of its newest vessel, M/V Quincey Cenac, as

Concordia Maritime Posts Q2 Profit

Facing a “gradually deteriorating market,” Sweden based tanker shipping company Concordia Maritime said it was able to post a profit in Q2 2016 based on high vessel

Finance

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

US Oil Drillers Add Rigs for 5th Week in a Row

U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast

Daewoo Shipbuilding: $1.4 bln order Cancelled

Cancelled order part of Statoil's Bressay project. South Korea's Daewoo Shipbuilding & Marine Engineering Co Ltd on Friday said a 1.58 trillion won ($1.41 billion)

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0985 sec (10 req/sec)