Maersk CEO Voices Global Trade Woes


AP Moller-Maersk CEO Nils Anderson has declared that global trade will never see growth rates similar to those experienced before the 2008 financial crisis as western companies are now increasingly manufacturing their own products.

Rather than depending on manufacturing in Asia, Western European companies are moving production to Eastern Europe, whereas US companies are investing either at home or in Mexico, according to the Financial Times.

Nils Anderson said: “Before, [trade growth] used to be double-digit globally, but we don’t see that coming back. 4-5% is a realistic long-term trend. Provided the capacity is adjusted, this is a nice market to be in.”

The adjustment in capacity is a key issue for the most important trade routes, since most are suffering from over-capacity and shipping lines are now holding back goods for the return of a pre-crisis trade boom.

“It’s only when shipping companies have been investing, hoping that the good old days will come back, that we have had issues. And the good old days will most likely not come back.”

Mr Andersen said that shifts in trade patterns from Asia would have a particularly significant impact on container ships, which carry 90% of all trade in goods.

Overall, he predicted that global trade would grow only by around 4% in 2015, which is a similar result to 2014.

Mr Andersen concluded by saying that the worsening crisis between Russia and Ukraine represented the biggest strategic concern for shipping lines.

(Source: Vimeo)

Daily Email Newsletter

Sign up to our daily email newsletter to receive the latest news from Port Technology International.

Supplier Directory

Find out how to get listed

Webinar Series

Find out how to attend

Latest Stories

Cookie Policy. This website uses cookies to ensure you get the best experience on our website.