The pressure on small and mid-size container carriers will gain strength and make it completely unprofitable for them to continue in the industry, says Maersk Group CEO Nils Smedegaard Andersen in an interview with the Wall Street Journal.
"I can't speak for other companies, but small and mid-size carriers-controlling a 3 percent to 5 percent market share--with very few exceptions--have been unprofitable for the last seven years. After such a long period of not being profitable, it defies logic to continue to invest in the business," says Nils Smedegaard Andersen.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
One large container ship would spend green energy corresponding to annual consumption of 139,000 households
How can shipping decarbonize if merely one container ship would claim an amount of sustainably produced energy corresponding to the annual consumption of Trondheim in Norway, a professor asks. Now, he presents a plan to the Research Council of Norway, which some might deem controversial.
Skuld has passed deadline for terminating business with Sovcomflot
Sanction-hit Russian tanker carrier Sovcomflot is no longer part of Skuld’s insured fleet, ShippingWatch learns. The deadline for ending the customer relationship has passed. Skuld refrains from commenting.
The von Appen family's trusted is first and foremost a dry cargo charterer
Hans-Christian Olesen, who has taken over leadership of Ultrabulk from Per von Appen, has grown up as a charterer and still travels around, making deals with customers. ShippingWatch has met the new chief executive.
Toll Group reshuffles management – Thomas Knudsen new chair
Former Maersk executive Thomas Knudsen moves from the position as CEO to chairman of the board at logistics firm Toll Group.
Maersk sees increased probability of container fee in US ports
Likelihood of a fee on containers in the ports on the US west coast ”has risen significantly this month,” assesses Maersk. So far, the container dwell fee has been postponed several times.
Team Manager 
Senior Finance Business Partner 
Port Director for the Port of Kolding 
Marine Sales Executive - Performance Coatings