Copenhagen: A.P. Moller-Maersk believes that it is at risk of losing part of its current market share in the short term to competitors with larger orderbooks. The company, which declared a 58% increase in profits for the first half of 2008 to $2.4bn from $1.5bn seen in the same period during 2007, operates leading container line Maersk Line.
"Obviously we don't want to lose market share," Maersk chief executive Nils Andersen told Reuters during a conference call. "On the other hand we are, given the present market conditions, quite pleased we don't have the largest order book coming on stream in the next couple of years. That means we will have to accept some loss of market share. We want to make it as little as possible."
According to AXS-Alphaliner as of August 2008, Maersk has 87 ships aggregating 442,884teu or order (representing 21.6% of its existing fleet), compared with second largest line MSC's 50 vessels of 580,668teu (43.4%) and third placed CMA CGM's 81 ships of 676,285teu (71.1%). Also, sixth placed Cosco Container Line has greater capacity than Maersk on order with 70 vessels of 504,880teu (104.3%), which would propel it to fourth place. [02/09/08]
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