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.
We will continue managing our capacity actively, as we have done this year, Lars Mikael Jensen, Head of Maersk Line activities on Asia-Europe, tells ShippingWatch as the market has seen clear signs that a new regular price war has begun.
LR2Pool confirms to ShippingWatch that a Maersk ship, in violation of international conventions, has been used for sailing Iranian fuel oil. "By using our surveillance program, we do what we can to ensure it does not happen," says LR2Pool CEO Per Juul.
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.
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.
Robert Bugbee, CEO of Maersk Tankers' top competitor Scorpio Tankers, has great expectations for the Maersk family after its acquisition of Maersk Tankers. "I expect to see the Maersk family as a driving and consolidating force," he tells ShippingWatch.
Maersk Line has for the first time quantified its growth ambitions for Hamburg Süd, a takeover transaction the carrier is expected to complete before long. "It's a long-term ambition, but there's no doubt that our expectations are high," COO Søren Toft tells ShippingWatch.
The Maersk Group's sale of its tanker unit to the Maersk family made headlines on ShippingWatch this week. Top stories also included a bankruptcy in the ballast water market and revolt among Seadrill's bondholders.