Maersk Line is expecting to lose money again this year, despite recent rate increases, the chairman of parent group AP Møller-Maersk told shareholders last week.
A “negative result in 2012” for the world’s biggest container line would be “a consequence of excess capacity”, Michael Pram Rasmussen explained to the group’s annual general meeting.
The APMM group overall expected a positive full-year 2012 result, but it would not be as good as that for 2011, he added.
Maersk Line is expecting to lose money again this year, despite recent rate increases, the chairman of parent group AP Møller-Maersk told shareholders last week.
A “negative result in 2012” for the world’s biggest container line would be “a consequence of excess capacity”, Michael Pram Rasmussen explained to the group’s annual general meeting.
The APMM group overall expected a positive full-year 2012 result, but it would not be as good as that for 2011, he added.
Maersk Line had regained market share lost during the previous downturn and so the primary focus had shifted to profitability, said Rasmussen.
This would be achieved “partly with rate increases and partly with increased competitiveness, achieved through continued savings and efficiency improvements”.
He said Maersk intended to maintain its global market share and pursue its long-term strategy to grow with the market.
He also expects more freight rate increases this year, to follow those last month, this month and next month.
Rasmussen said Maersk Line had tried for increases of $750 per teu in March and $400 per teu in April and achieved about $1,000 per teu out of the $1,150.
“There will be more,” he told the meeting.
Discussion about this post