Hapag CEO: Future Bright for Shipping

Rolf Habben Jansen, CEO of Hapag-Lloyd has said that the future of the container shipping industry looks positive and is expecting to see growth in the coming periods, according to the Journal of Commerce.

This is against the backdrop of a period of booming profits for the top 20 container lines as a result of the drop in fuel costs.

The CEO spoke at the Journal of Commerce’s recent Container Trade Europe Conference in Hamburg, where he outlined his belief that long-term annual growth could reach as much as 5%.

He detailed that the shipping industry was 20% bigger in 2014 than in 2008 and said: “Not many economies are bigger now than in 2008. We should not forget this.”

The industry has been stifled by the drop in freight rates caused by the overcapacity of mega-ships in recent months but there could be a silver lining for many shipping lines.

US and EU household spending could be an aspect of economic growth set to revive container shipping as private spending boosts the demand for containerised goods along the vital trade lines.