CEO of Shipping Giant Maersk Sees No Sign of Freight Market Easing this Year

17th September 2021

Danish shipping giant AP Moller-Maersk based in Copenhagen, handles one in five containers shipped worldwide. Credit: Jehan Ashmore

A.P. Møller – Mærsk A/S, the Danish shipping giant sees no indication that the current red-hot freight market will lose steam this year, its chief executive has said.

Maersk has lifted its 2021 outlook again, riding the rise in freight rates which has resulted from a congested global supply chain.

The coronavirus pandemic has prompted shortages of container ships and logjams at ports at a time of high consumer spending, sending the cost of transporting freight to record levels.

"Nothing in our data suggests that the situation will change this year," Maersk chief executive Soren Skou told Reuters.

He expects global trade volumes to grow by 7%-8% this year compared with 2020.

About The Author

Jehan Ashmore

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Jehan Ashmore is a marine correspondent, researcher and photographer, specialising in Irish ports, shipping and the ferry sector serving the UK and directly to mainland Europe. Jehan also occasionally writes a column, 'Maritime' Dalkey for the (Dalkey Community Council Newsletter) in addition to contributing to UK marine periodicals.

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