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

People & Company News

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

New Players in Singapore Markets in OW's Absence

The downfall of a leading marine fuel supplier that prompted sellers to tighten credit terms in Singapore is skewing the post-OW Bunker jostle for market share

Japan Military Wants China "Crisis Management" Pact

Japan's highest-ranking military officer on Friday urged an early start to a "crisis management" mechanism with China amid conflicting claims to a group of tiny East China Sea islands.

Container Ships

World’s Largest Boxship is DNV GL classed

CSCL Globe, the world’s largest containership and the first of a series of five 19,100 TEU containerships ordered by China Shipping Container Lines (CSCL) in 2013,

DNV GL “Modification Excellence Award” for Schiffahrt

Classification society DNV GL recognised that E.R. Schiffahrt has retrofitted seven ultra large container vessels to meet the highest energy efficiency standards

World’s First LNG-Ready Ultra Large Container Ship Named

The race is on in global maritime circles to be the “world’s first” in every aspect of environmental friendliness, particularly in regards to the incorporation of LNG as fuel onboard commercial ships.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Simulators Sonar
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: 0.1009 sec (10 req/sec)