Lars Jensen, CEO at Maersk Line Asia-Pacific has said that the world’s largest shipping line is preparing to spend more on container ships after predicting demand growth for container shipping to increase by around 3-5% in 2015.
PTI previously reported an incident whereby a Maersk ship collided with a bulk carrier along the Houston Ship Canal.
In the Sierra Leone Times, Lars Jensen is quoted as saying “we do need to invest in new ships to keep up with the global growth and to replace the older ships that are coming to the end of their efficient life span.”
The global economy has slowed container shipping growth since the financial crisis of 2008, causing an oversupply of container ships in the market.
Despite this, shipping lines are still spending more to increase their fleet sizes and global competitiveness, with shipping lines such as CMA CGM ordering more container ships of mega holding capacities.
Neil Davidson, Senior Analyst for Ports and Terminals at Drewry, said: “It's important to remember that ships are long term investments, so decisions to order ships are made not with the current or next few years' demand in mind, but the next 20 years in mind.
“When ordering ships, timing is key, in terms of price. If newbuild prices are relatively low then it may make sense to order ships even if the current supply-demand position isn't favourable.”