Article Maersk

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Lloyd's List - Containers - Maersk boss predicts further consolidation

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Maersk boss predicts further consolidation
Wednesday 23 February 2011, 14:01 by Janet Porter Interested in this topic?Set up a custom email alert and we'll tell you everytime we write more like this. Box sector to undergo further rationalisation over long-term as weaker lines are marginalised

Maersk Line is concentrating on organic growth.

AP MOLLER-Maersk chief executive Nils Andersen is forecasting further rationalisation in the container shipping industry in the coming years, with smaller lines struggling to compete against the big global players. Although Maersk Line is concentrating on organic growth, having just signed a $1.9bn deal for a series of 18,000 teu vessels, Mr Andersen said he expects to see consolidation over the long-term as weaker operators find themselves marginalised. “We believe the world will develop in a way where smaller players will find it increasingly difficult to put their mark on the industry,” Mr Andersen said shortly after reporting that the group had made record profits in 2010 as its container shipping division powered back into the black. “Some consolidation will happen, although whether through takeovers, or because more marginal players cannot find investors to back their plans, I don’t know.” Over the years, the Danish group has been one of the most active players in the container shipping consolidation process, having bought Safmarine, Sea-Land and finally P&O Nedlloyd in 2005 to confirm its position as the world largest operator in terms of fleet capacity. AP Moller-Maersk executives also spoke about the need for greater consolidation during the market collapse of 2009, while making it clear that the company was not actively looking for any acquisition opportunities. Many industry observers had expected to see some merger or…...

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