ITF Unions in Maersk
From Copenhagen to Singapore
24 July 2008
Growth in intra-Asian trade prompts Maersk Line to move management unit
The firm growth in intra-Asian trade has prompted Maersk Line to switch management of business in this region from Copenhagen to Singapore, according to the Lloyd's List daily.
"We are establishing an intra-Asian unit in Singapore, and the idea is we will try and see what we can do to serve this trade better," says Maersk Asia-Pacific chief executive Jesper Praestensgaard to the paper.
He hopes that being close to the market will help the company appreciate the trading routes better. There are a lot of short voyages within Asia.
Maersk is launching a new China-South east Asia service on 21 July. Three 2,700 teu vessels will be on the service.
Many companies are eyeing the Asian market for its growth opportunities. Maersk concedes that some Asian activity will be difficult for it to compete with. According to the paper, Maersk has yet to achieve the efficiencies it had hoped for following its acquisition of P&O Nedlloyd two years ago.
Praestensgaard tells the paper that the Asian market had always continued to grow, even in downturns, and that the cyclical nature of the industry was a known fact. What Maersk has to do is "run a tight ship", he says.
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