Maersk Line Chief Executive Officer Søren Skou said this week he expects demand growth for containerized cargo to remain in the 4 to 5 percent range, not the heady 10 percent annual growth seen prior to the economic downturn.
“I think the reality is that our industry has to get used to lower growth than we had in the past,” he said in an interview with the Financial Times
Aside from generally weaker economic conditions affecting demand, Skou pointed to two other factors dragging on container demand growth. He said both the idea of offshoring production, and the movement of non-containerized goods to containers had largely run its course.
Skou heads the world’s largest container line, with Maersk set to put into operation this week the first of its 20 Triple-E 18,000-TEU vessels. - Eric Johnson