Maersk Switches Focus to Emerging Markets

Maersk Switches Focus to Emerging Markets

CEO Nils Andersen of AP Moller-Maersk Group says that they are optimistic about maintaining their market share of 14.4 percent of the global cellular fleet this year. According to Exim News Service, Maersk appears to be well positioned to take advantage of opportunities in the emerging regions of Africa and Latin America.

Andersen announced in the Maersk Post, and internal magazine of AP Moller-Maersk Group, that he believes they are well positioned in both places, especially in Africa. "We have an organization that understands the markets very well and we have local managers coming up through the ranks who feel committed to our company. We are very strongly placed there to help and take advantage of business opportunities."

Andersen goes on to explain that they don't have such a strong position in Latin America, but they do have a strong customer base there, along with a strong and experienced organization. Andersen states, "We will have opportunities to expand and are ready to invest in new vessels, port infrastructure and oil-related activities. The window of opportunity is now, because we are already active in, for example, West African and Latin American countries, and we have more knowledge than most investors coming into the markets."

Maersk is expecting an 8 percent rise in global demand for ocean freight in 2011. Andersen believes that while the debt crisis is slowing recovery in the US and European economies, global trade will continue to grow. Maersk is excited about the growth rate and believes that it may surpass 8 percent by the end of the year. "We are making very good cash flows and good profits, which means we have the strength to invest at the moment, probably also more strength than many of our competitors," Andersen said.

Maersk is striving to identify and secure the right projects in energy, trade or infrastructure. Their main focus is to strengthen their oil and gas business, both in terms of reserves and operational capabilities. They feel that they are better prepared for increased capacities and other fluctuations than they have been in the past. They are now able to boost or reduce capacity on shorter notice than before, which makes them a more flexible ocean shipping company.

"Emerging market economies are developing rapidly, and a growing middle class demand means more imported consumer goods," Andersen said. "We already have a strong presence in emerging markets, but one of our priorities for 2011 is to tip the balance of our business from the old to the new markets and dedicate even more attention and investments for them."

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