A shipping cycle downturn, the cost of fuel for ships, geopolitical change, the regulatory challenge and the information revolution are the five factors which will change shipping in the years to come,” Clarkson’s President for Research states.
The imbalance between the global markets forces Maersk Line to sail around with 4 million empty containers a year, and there is no immediate solution to the problem, says the shipping company to ShippingWatch.
Today, employees on board the Maersk Line ships have to report any attempt at bribery from authorities or other people around the world. Fighting corruption is a challenge of the social norms of many countries, says Maersk Line, which internally has a zero-tolerance policy when it comes to corruption.
Transparency has become a plus word at the Maersk headquarters since Nils Smedegaard was brought in to join Maersk. Among other missions, Smedegaard was tasked with modernizing the image of the company. He has been very successful in doing so, states Associate Professor Martin Jes Iversen of Copenhagen Business School.
Having successfully increased the rates on regular containers, reefer containers are next in line, and Maersk Line sits on one quarter of the global market. “The return is not good enough,” says CEO Søren Skou to ShippingWatch.
John Fredriksen's crude oil tanker carrier Frontline has given up its efforts to buy its way to a position as the world's biggest player in its segment. For now at least. The carrier bets on the benefits from its own fleet renewal, CEO Robert Hvide Macleod tells ShippingWatch.
Starting next month, Maersk Line's customers will be able to monitor where the carrier's reefer containers are located as well as the internal temperatures. This comes in response to requests from customers, says CCO.
The container carriers' higher freight rates do not constitute an actual problem for Danish freight forwarder Scan Global Logistics. But the CEO tells ShippingWatch that he hopes prices will soon stabilize.