Maersk Line regains market share
SHIPPING: Maersk Line is much less affected than its closest competitors by the intense downturn raging the container markets. Much suggests that Maersk Line has captured market shares from the competitors.
"This is very positive compared to the market that container shipping experienced toward the end of 2008. It suggests that Maersk Line manages the crisis better than the competitors and gains markets shares at the moment. In addition, there are signs, that Maersk Line's larger ships, gives the shipping company a lower costs per unit than the competitors", says stock strategist Stephen Rammer from Formuepleje.
Also at Carnegie the evaluation shows, that the fourth quarter exceeding expectations has cemented Maersk Line in its position as the world's largest container shipping company.
"The underlying drive is DKK 1.1 billion better than we had expected. This indicates, that Maersk Line even under difficult market conditions has managed things far better than expected, and perhaps better than the competition as well", says chief analyst at Carnegie, Henrik Lund.
CFO Soren Thorup Sorensen does not wish to comment, how Maersk Line manages compared to the competition.
It is unclear exactly how things are for the closest competitors of Maersk Line; Swiss MSC and French CMA, because they are secretive on financial information. But rumour has It, that both companies are facing difficulties and that the two shipping companies are trying to cancel some of the orders given for new ships in 2009 and 2010.
Source: The Daily Borsen
