Søren Skou: Time to celebrate Maersk Line´s 2013 result

Maersk Line´s annual result, which will be published in a week, calls for celebration in the company´s international network, CEO Søren Skou tells the global management group.

Although a week remains until Maersk Group and Maersk Line will publish their 2013 results, there already seems to be good reasons for the Maersk Line staff members to prepare for a party.

At the annual meeting with the 100 member global management group held recently in Copenhagen, Søren Skou made it quite clear that expectations are very high.

The meeting and prsentation made by Søren Skou was broadcast on-line to all management members globally and a video was distributed afterwards. The Maersk Line CEO says:

"When the result will be published February 27., there will be something to celebrate. We will do so and I encourage you to do the same because there is really something to celebrate."

Søren Skou does not detail the result further on the video but he does point to the comforting elements that have led the carrier in the right direction, and which makes a difference compared to the results of the competitors:

Strong 2013 performance

Throughout 2013 Maersk Line has experienced a strong development and is able to present better margins than its competitors. The rate level has not supported this development. On the contrary, because Maersk Line has been forced to lower its prices with more than seven percent in 2013. To the benefit of the final result, however, come slow steaming, closing down strings and the general optimization of the network according to Søren Skou.

More containers on fewer vessels improved the carrier's utilization rate by 4.4 percent last year.

However, Søren Skou is also very accurate in terms of where he sees the challenges ahead, and also in terms of where the carrier has struggled for the last ten years, according to the CEO's presentation: Return of investment, or better put, how the company has become better at nursing shareholders' money. This is the number one priority, says Søren Skou.

"We have not lived up to this for ten years, this has to be improved," he underlines.

The presentation does not include any news on the P3-alliance.

Maersk declines to comment on the matter when asked by ShippingWatch, making the following statement in an mail:

"ShippingWatch is quoting information from an internal presentation that should be viewed in a larger context. Maersk Line, out of principle, does not comment on information intended for internal use."

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