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.” 



People & Company News

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Why Maritime Museums Matter

With today’s focus on digital technology, mobile apps, enhanced reality and the overall digital landscape, the maritime industry often gets overshadowed, leaving some to ask,

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Container Ships

Asia’s Biggest Container Shipper Posts Loss

Asia’s largest container shipping company China Cosco Holdings Co  posted a net loss of Yuan7.2bn ($1.1bn) for the first six months of 2016, reversing the Yuan2bn

Matson Orders Two ConRo Ships from NASSCO

Matson Navigation Company, Inc., a subsidiary of container shipper Matson, Inc., has signed a contract with U.S. shipbuilder General Dynamics NASSCO to build two

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Simulators
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: 0.0839 sec (12 req/sec)