Maersk Line CEO Cautiously Optimistic

Press Release
Wednesday, January 09, 2013

Tim Smith, Maersk Line’s North Asia CEO, reflects on 2012 being quite a volatile year, but sees an increase in the Asia-Europe container trade.

The biggest challenge for the entire industry is overcapacity, said Smith. “In these volatile markets we have seen a lot more capacity coming into the market the last couple of years than is needed by the lower levels of demand.

” 

Last year that overcapacity was managed tolerably well by taking out ships, scrapping them, slowing ships down or idling them for shorter or longer periods. “We managed to balance supply and demand,” said Smith, “and that is the game we need to play again in 2013.

” 

2012 was “a bit of a roller-coaster for us and for our customers,” said Smith. “What we would like to do is to get into a more sustainable basis in 2013.” 

“We should never be too confident in these challenging times, but it’s certainly looking more optimistic than it has been for a little while.” 


Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Resolve Maritime Academy's New Wet Trainer Facility

Resolve Maritime Academy says it has started on the construction of a new, two-story wet trainer, larger and more expansive than its original, the L/V Gray Manatee.

Bollinger Fourchon: 13 Years Without a Lost Time Accident

Bollinger Shipyards, Inc. announced that their Bollinger Fourchon, L.L.C. facility has worked 13 years without a lost time accident. Building on a philosophy that starts at the top,

Messer's CEO Norville Announces Retirement

Bill Heller to assume the position as Messer Cuttings Systems’ President and CEO Gary Norville started at Messer Cuttings Systems Inc. in September 1980 selling and installing cutting machines.

Container Ships

DMR Publish Latest Container Census Report

Drewry Maritime Research (DMR) says it has just published it's latest Container Census report, providing a wealth of information on the container equipment market.

Höegh LNG Partners Launch IPO

Höegh LNG Partners LP ("Partnership"), a Marshall Islands limited partnership formed by Höegh LNG Holdings Ltd. ("Company"), announced today that it has commenced an initial public offering of 9,

XtendFRESH Now Available from Carrier Transicold

The XtendFRESH atmosphere control system, which preserves quality and extends shipping distances for perishables shipped in refrigerated containers, is now available from Carrier Transicold.

 
 
Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1020 sec (10 req/sec)