Maersk in $3 billion mega-ship pledge


Maersk plan to invest billions of dollars in new ships and hope to reap hundreds of millions in savings with a new plan of action to drastically increase the TEU capacity of its fleet.

The company said it would spend US$3 billion a year between 2015 and 2019 on new vessels.

Although the industry is suffering from oversupply, companies are moving away from older and smaller ships for fewer but larger ones.

Maersk Line Chief Executive Soren Skou said: “Due to our size, we need 425,000 TEU vessels delivered between 2017 and 2019.”

That works out to around 23 of Maersk's ‘Triple E’ vessels – the largest in the world by capacity with a length of almost four soccer pitches.

The shipping line also expects to save US$350 million a year from its shipping alliance with its nearest rival, the Mediterranean Shipping Company.

Maersk controls around 20% of transported goods on the world's busiest route between Asia and Europe, and has a global market share of around 15%.

Its profit margin has been 5% higher than its rivals for almost two years.

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