A part of Watch Media

ShippingWatchFriday3 February 2023

  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Search
  • Log in
  • Latest
  • Search
  • Log in
  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
27/09/2013at 13:52

KG funds are the only ones certain to lose on Triple-E

Maersk Line maintains that the carrier won't increase the capacity on Asia-Europe when the Triple-E ships are deployed. The surplus ships will be moved to other trades or returned to their owners. This means that the buildup, so far, will only have one loser.
Photo: Carsten Bundgaard
BY TOMAS KRISTIANSEN

The first ultra large Triple-E ships have left the DSME shipyard, and the next 17 ships will follow them to deployment on they key string from Asia to Europe over the next couple of years. With a capacity of 18,000 teu per ships, this would result in a huge increase of capacity on the already struggling route if it wasn't because Maersk Line is automatically withdrawing the same amount of tonnage, meaning that the smaller ships in particular will leave Asia-Europe.

Do you want to stay up to date on the latest developments in Danish and International shipping? Subscribe to our newsletter – first 40 days are free

Maersk Line's executive team made this fact clear yesterday, Thursday, at the Maersk Group's Capital Markets Day, explaining that surplus ships will at first be deployed on some of the minor routes and regions, such as Africa and South America, or in the promising North-South traffic that already accounts for more than half of the shipping company's business. But only if it makes sense commercially.

The largest tonnage

The shipping company also made it clear that, going forward, a crucial parameter on all the world's biggest trade lanes will be to have the largest tonnage possible. This means that Triple-E will be the flagship between Asia and Europe, while WAFMAX and SAFMAX will be the primary flagships on Africa and South America, respectively, as they were built especially for operating ideally on those two continents.

Nils Smedegaard: We are in a strong position

So there's much to indicate that a significant part of the current chartered ships on Asia-Europe will be completely withdrawn from Maersk Line's fleet and returned to the owners. Maersk Line has also expressed a general desire to own a larger share of its ships, as there's a better long term economy in owned ships, not least due to bigger fuel savings.

Considerable amount

And the shipping company's CEO, Søren Skou, confirms that the owners of the chartered tonnage, many of which are the already-struggling German KG funds, will be the ones holding the leftover fleet resulting from the introduction of the Triple-E ships.

P3 will bring crucial savings

"It's too early to say exactly how many ships we're looking at, but it will be a considerable amount," said Søren Skou.

The collapse of many of the German KG funds has in recent years developed into a huge problem for the entire German shipping industry. The country is by far the world's biggest owner of container ships, particularly due to the unique KG fund scheme. The German banks have also been hit hard by the collapse of the funds.

Do you want to stay up to date on the latest developments in Danish and International shipping? Subscribe to our newsletter – first 40 days are free

Platou predicts improved results for Maersk Line 

Credit rating to improve Maersk's lending conditions

Thome sees great opportunities in German shipping 

Related articles:

  • Photo: Carsten Bundgaard

    Platou predicts improved results for Maersk Line

    For subscribers

  • Photo: Maersk

    Credit rating to improve Maersk's lending conditions

    For subscribers

  • Thome sees great opportunities in German shipping

    For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

!
Newsletter terms

Front page now

Foto: Staff/Reuters/Ritzau Scanpix
Logistics

DSV sees one advantage of downturn: It will be cheaper to buy competitors

Acquisitions are decisive for growth at logistics group DSV, and with prospects of declining freight volumes, the prices of acquisitions will fall. DSV will use this to its advantage, according to CEO Jens Bjørn Andersen.
  • DSV books a much improved 2022 result – but a new reality now awaits
  • DSV aims to grow further via acquisitions with market consolidation still very far away

For subscribers

Hans Lind Dollerup er ny managing director for Dan-Bunkerings europæiske forretning. Selskabet har også hyret en ny kommerciel direktør i Europa. | Foto: Dan-Bunkering
Suppliers

Dan-Bunkering hires new management for Europe

For subscribers

Foto: Rebecca Naden/Reuters/Ritzau Scanpix
Tanker

Euronav retains substantial dividend due to merger strife

For subscribers

Foto: A.p. Møller – Mærsk, Verity/pr
Logistics

Maersk deploys drones in US inventories

For subscribers

Foto: Zhang Ke/AP/Ritzau Scanpix
Offshore

There aren't enough ships to install giant wind turbines across Asia

For subscribers

Genrebillede. | Foto: Lee Jae Won/Reuters/Ritzau Scanpix
Logistics

Expeditors hit by claim from robot company after extensive cyberattack

For subscribers

Further reading

Foto: A.p. Møller – Mærsk, Verity/pr
Logistics

Maersk deploys drones in US inventories

The Danish shipping giant is testing the use of drones at the company’s US inventories in an attempt to improve warehouse inventory systems.

For subscribers

Genrebillede. | Foto: Lee Jae Won/Reuters/Ritzau Scanpix
Logistics

Expeditors hit by claim from robot company after extensive cyberattack

US-based Expeditors is facing claim from a customer citing business difficulties resulting from the freight forwarder’s paralysis caused by a cyberattack a year ago.

For subscribers

Foto: Staff/Reuters/Ritzau Scanpix
Logistics

DSV sees one advantage of downturn: It will be cheaper to buy competitors

Acquisitions are decisive for growth at logistics group DSV, and with prospects of declining freight volumes, the prices of acquisitions will fall. DSV will use this to its advantage, according to CEO Jens Bjørn Andersen.

For subscribers

Latest news

  • Maersk deploys drones in US inventories – 2 Feb
  • Expeditors hit by claim from robot company after extensive cyberattack – 2 Feb
  • DSV sees one advantage of downturn: It will be cheaper to buy competitors – 2 Feb
  • Euronav retains substantial dividend due to merger strife – 2 Feb
  • Dan-Bunkering hires new management for Europe – 2 Feb
  • Mærsk Center for Zero Carbon hires new executive from port company – 2 Feb
  • Stolt-Nielsen expects good times ahead for chemical tanker after new profit – 2 Feb
  • There aren't enough ships to install giant wind turbines across Asia – 2 Feb
  • Creditors in crisis-stricken Dof request bankruptcy proceedings – 2 Feb
  • DSV books a much improved 2022 result – but a new reality now awaits – 2 Feb
See all

Jobs

  • Junior Finance Business Partner - offshore wind industry

  • Fleet Manager

  • Chartering Manager for Lauritzen Bulkers A/S

  • Financial Controller for International Shipping Company

  • Senior Financial Controller

  • Senior Lead, Human Sustainability at Sea

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Foundation Package Manager - Offshore wind industry

Jobs

  • Junior Finance Business Partner - offshore wind industry

  • Fleet Manager

  • Chartering Manager for Lauritzen Bulkers A/S

  • Financial Controller for International Shipping Company

  • Senior Financial Controller

  • Senior Lead, Human Sustainability at Sea

  • Copenhagen Shipping Company is hiring a skilled cargo broker

  • Foundation Package Manager - Offshore wind industry

See all jobs

Colophon

ShippingWatch
Search

Sections

  • Carriers
  • Logistics
  • Regulation
  • Suppliers
  • Offshore
  • Ports
  • Sitemap
  • RSS feeds

Editor

Tomas Kristiansen

tk@shippingwatch.dk

Tel.: +45 3330 8360

Editor-in-chief

Anders Heering

Publisher

JP/Politiken Media Group Ltd

Advertising

annoncering@infowatch.dk

Tel.: +45 7077 7445

Advertising

Job Advertising

job@infowatch.dk

Tel.: +45 7077 7445

Jobs

Subscription

Try ShippingWatch or get an offer for a subscription meeting the exact needs of you or your company.

shippingwatch@infowatch.dk

Tel.: +45 7077 7445

Learn more about subscriptions here

Address

ShippingWatch

Rådhuspladsen 37

1785 Copenhagen K, Denmark

Tel.: +45 3330 8360

Guidelines

  • Privacy Policy

Copyright © ShippingWatch — All rights reserved

Microsoft is in the process of discontinuing Internet Explorer – and so are we.
For a better experience, we recommend using one of the following browsers.

Kind regards,
ShippingWatch

Google ChromeMozilla FirefoxMicrosoft Edge