How Maersk grew its transport empire and the way it’s evolving
Annually about 90% of world commerce is transported by ship, in line with the World Economic Forum. Whereas commodities like oil and grain make up 40% of that cargo, massive metal containers, full of home equipment, smartphones, and couches, make up the rest.
With its fleet of over 670 vessels, Maersk, one of many world’s largest transport firms, transports about one in 5 of these containers.
The corporate logged document income in 2022 due partially to pandemic-induced shopping for and better freight charges.
However, like its rivals, Maersk is dealing with a spread of challenges together with Pink Sea diversions, a drought on the Panama Canal and a possible strike by the International Longshoremen’s Association, the biggest union of maritime staff in North America.
It additionally chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week.
CNBC examines the problems dealing with Maersk, and its rivals Hapag-Lloyd and MSC, and appears at how the corporate is making an attempt to transition for future development.