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Maersk lose money on Daily Maersk

Maersk lose money on Daily Maersk

15-01-2013 15:00:00

Maersk Line's groundbreaking Daily Maersk concept is at the current rate level an economic millstone around the neck of the container company. The rates must rise further 300-500 U.S. dollars per TEU for the concept to be profitable.

"There is no doubt that on the market on the Asia to Europe route, there is a need for further increase rates. This will probably require a further increase of 300 to 500 dollars per TEU, before it is profitable", says Lars Mikael Jensen, Maersk Line's head of the Asia-Europe route, to Børsen.

However, the current earnings do not make him doubt the concept's viability.

"Daily Maersk is a product that can go the distance against anything. It is ultimately about that there are enough customers who can see the importance of things arriving on time", says Lars Mikael Jensen.

The consultancy firm SeaIntel has estimated that it may be difficult for Maersk Line to fill Daily Maersk ships with cargo as overcapacity in the market increases.

"If the market continues to be this bad, Maersk Line will face the question whether they will continue to maintain Daily Maersk. And if they want it, then how do they get sufficient volume on their vessels", says CEO of SeaIntel, Lars Jensen.

Lars Jensen believes that Maersk Line will either have to cut prices to maintain its market share on Asia-Europe, or form alliances with other companies to operate Daily Maersk.

Source: Børsen / maritimedenmark.dk

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