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Indiaexportnews.com

Market expected to grow

  23.11.2009    

AP Moller-Maersk, operator of the world's largest container line, said that it expected the market to grow in 2010, adding that freight rates may start to appreciate as carriers cut back on capacity, reports The Associated Press.
But sentiments within the company remain divided, however, as some senior officials take a more cautious outlook, said the report.
CEO Eivind Kolding told AP volumes would likely rise three to eight per cent in the next year, adding that rates would rise, but that much depended on suppressing costs.
Danske Bank analyst Peter Rothausen said there were signs the container market and Maersk would benefit from higher rates and lower unit costs, but the banks had not upgraded its "hold" rating.
The company's terminals chief Christian Moller Laursen said the upcoming recovery had not been reflected in throughputs.
"Our customers are bleeding, with no solution in sight," he said while adding that there was a likelihood of more measured growth over time as demand in developing nations picked up.
Mr Kolding also said the delays in new vessel orders and laying up ships would bring rates even, or slightly higher, while keeping in mind they had already fallen 30 per cent in the first nine months of 2009.
The group called for better understanding between terminal operators and shippers, and more cooperation among carriers. Maersk Line has accordingly ended its long-standing absence from the Transpacific Stabilisation Agreement, which includes 14 of its rivals. 
 
 
 


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