Maersk Exec: Container shipping to grow globally this yearGlobal container shipping could grow 7-8-percent globally this year, according to Maersk’s Asia Pacific chief executive Jesper Praestensgaard, in a recent Reuters report. Praestensgaard sees the inter-Asia trade being the biggest performer in those numbers, despite rising fuel costs which he said accounts for over half of Maersk Line’s operating costs. The company is about to start up a new China-Singapore service. However, he aknowledged fuel is an issue. “There is no doubt that the current oil prices is hindering global trade, both in terms of reducing consumption and increasing transportation costs in general.” Maersk's biggest, fully-loaded containerships can consume an estimated 12,200 gallons of fuel for every 62 miles, according to the report. Despite the global fuel issues, Maersk has ordered 34 new vessels to be delivered by 2012. “Shipping is cyclical, everyone knows that. So when we make investments in shipping, we invest in ships with lifespan of 25 to 30 years, and you have to measure success over that lifespan,” Praestensgaard said.More Today's Cargo News stories
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