Falling freight rates, declining earnings and rising overcapacity. The container market finds itself caught in a vicious cycle, says Robbert van Trooijen, Maersk Line's Chief Executive for the Asia-Pacific region, at Singapore Maritime Week.
BY TENNA SCHOER
Container freight or pork production? Standing before a few hundred shipping industry representatives, Maersk Line's Robbert van Trooijen compared the container industry to the pork industry.
A shortage of modern MPP ships and an unexpected comeback for oil and gas means Hamburg-based United Heavy Lift is busy, Partner Andreas Rolner tells ShippingWatch. ”A year ago, we thought oil and gas was dead.”
Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”
Almost 2,000 dock workers at Britain’s biggest container ship port plan to strike for eight days this month after failing to reach a pay deal, threatening to sever one of the UK’s most important trade routes.