Maersk Line sees 2011 market fairly balanced

Monday, 10 January 2011 00:01 - - {{hitsCtrl.values.hits}}

Reuters: The container shipping arm of A.P. Moller-Maersk, Maersk Line, sees a well-balanced market, as global capacity is forecast to grow nine per cent this year, a senior executive said.

The Head of Maersk Line’s route network, Jorgen Harling, told Reuters in an email that the shipping company sees demand in the global container market growing by about eight per cent in 2011.

“Even though there is uncertainty regarding the level of growth in the market, the difference between supply and demand does not look worrying,” Harling said.

He added that the market always corrects and adapts to the environment.

“This is also our expectation regarding the tonnage which will come into the market in 2011,” he said.

Maersk Line, the world’s biggest container shipper, did not have any new container vessels delivered in 2010, but from March this year and up until 2013 it will take delivery of 38 vessels to operate in emerging markets such as India, China and Africa.

Announcing its third quarter results in November, Chief Executive Nils Smedegaard Andersen said it was the group’s ambition to grow faster than the container market, which he said he expected would grow by six percent this year.

Last week shipping consultancy Alphaliner said Maersk Line’s market share had shrunk to 14.5 per cent from 18 per cent in 2005.