Emma Maersk unloads cargo
DANISH shipping giant AP Moller-Maersk Group said it will focus on rapidly growing markets such as South America and Africa, according to the official company magazine, Maersk Post.
While the Asia-Europe trade remains dominant, "growth out of China to Latin America and Africa will outpace growth rates to Europe," said the article quoting Lars Reno Jakobsen, head of network and product at Maersk Line.
"Therefore, we are focused on increasing market share in these new growth trades. We have been present in these growth markets for many years, and we adjust continuously according to developments in demand," said Mr Jakobsen.
Maersk's standalone forwarding unit Damco was also quoted on the changing global market situation.
"The rapid rate of outsourcing to China by western companies appears to be slowing because of increasing cost of Chinese labour and cost of fuel," said Damco strategy chief Pyers Tucker. "Companies are looking at sourcing alternatives, either in other countries in Asia or nearer to the countries where products will be consumed,"
Another big factor, he said, was increasing demand among consumers in developing countries. "Consumption in China is growing rapidly, and India is ready to take off. Even in African countries such as Nigeria, Ghana, Kenya and South Africa, we see increasing consumption," Mr Tucker said.
Exports from Africa to Asia increased 28.6 per cent from 2008 to 2010, but volume was flat from Asia to Africa. South America-to-Asia trade was up 5.8 per cent and 5.9 per cent from Asia to South America, said the magazine report.
Asia-to-Europe trade was flat in the same period while Europe-to-Asia was up 7.1 per cent. Trade from Asia to North America was down 4.6 per cent and declined 2.9 per cent from America to Asia. Europe to America volume fell 10.7 per cent while America to Europe fell 20.7 per cent.