Moller-Maersk positive about global container market
The Danish shipping and oil group Moller-Maersk has released financial figures showing that the company experienced a strong third quarter finalncially which could potentially see an upturrn in the container shipping market which would bode well for the worlds economy.
The company’s Maersk Line unit is currently the biggest container shipping line in the world and it accounts for around 50% of the group’s income. The company have announced that its volumes of transport had increased as much as 11% in the last profitable third quarter.
Moller-Maersk’s shipping vessels all together make up as much as 15% of the world’s shipping container market and the increase in volume indicated that demand worldwide is beginning to pick up once again. The company announced a net profit of 11% to $554 million which well surpassed the average forecast of $521 million. One of the reasons for this is potentially the decision recently to make cuts to cost and to lower fuel prices.
The company’s chief executive Nils Smedegaard Andersen said recently that he does not expect the annual growth within the global container shipping market to increase more than 5% in the next few years saying “We want to grow with the market. We are not interested in gaining market share in a low-cost situation.”