Maersk Line to invest $3b a year on new vessels

By Finance

The biggest container shipping company in the world, Maersk Line, has announced that it will invest around $3b per year on new vessels in the period 2015 - 2019 to keep its leading position.

It was not revealed how many vessels Maersk would order. Currently, the largest company in the world, by number of ships, has a fleet of 500.

This month a prediction was made by the consulting group Alphaliner that Maersk Line could be overtaken by MSC based on the current order-book of the industry.

In a presentation for analysts in Copenhagen, Maersk line said:

“The current orderbook (is) not sufficient to grow with the market.

"Vessels will support a low cost position by being the largest possible in each trade.”

The biggest container shipping company in the world is a unit of A.P. Moller-Maersk. The Danish company has a 15-percent market share and controls about 20% of transported cargoes on the busiest route in the world – between Asia and Europe. It is the most profitable container shipping company with a reported earnings gap of 5% point above rivals for the last seven quarters.

Maersk Line