Maersk says market balance to be restored in four years

Container shipping companies, like Maersk Line, will have to wait a further three to four years for a supply-demand balance, Nils Smedegaard Andersen, CEO of Danish oil and shipping group A P Moller - Maersk A/S, said yesterday at a seminar at Copenhagen Business School (CBS). Following the crisis, the global economy is now expected to slowly start growing, Smedegaard Andersen said, cited by Danish newswire RB Borsen.
The growth in the transport sector is two to three times higher than the growth in gross domestic product (GDP), which means that there will be a reasonable balance between supply and demand in 2013-2014, the chief executive explained.
According to Smedegaard Andersen, Maersk Line will now shift focus to achieving a profitability above the average in the sector, while it so far has been focusing on increasing its income.



www.indoshippinggazette.com