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Maersk Line Vows to Expand Market Share as it Delivers its Best Ever Quarterly Result

(Gavin van Marle – The Loadstar)

Maersk Group chief executive Nils Andersen admitted this morning that its container shipping arm had been “a little bit hesitant” to join the rate battle for cargo on the headhaul Asia-Europe route, but said Maersk Line would “live with whatever rates are in the market” and vowed not to concede market share over the full year.

Mr Andersen explained that the initial reluctance to join the fray – along with “some confusion” for customers in the early weeks of the 2M alliance – had mostly accounted for a fall in Maersk Line’s liftings in the first quarter to 4.4m teu, down 1.6% on the same period of 2014.

However he unleashed a shot across the bows of other east-west alliances which, he said, had grown their networks faster than 2M and been “quite fast” to pass on bunker cost savings to customers. Mr Andersen warned Maersk Line “will increase market share again” to “grow with the market.” Click here to read more.