Maersk Line, the world's largest container shipping firm and a unit of Danish shipping and oil group A.P. Moller-Maersk , said the global shipping industry is expected to grow 7 to 8 percent this year. "Asia is the factory of the world, so Asia doesn't grow anymore than the U.S. and Europe is willing to buy," Maersk Line's Asia Pacific Chief Executive Jesper Praestensgaard told Reuters in an interview on Wednesday.
"But the intra-Asia trade is growing relatively more than between the regions, so Asia is probably more shielded from a downturn in the U.S. and Europe."
Maersk Line, which operates over 500 container vessels and 1.9 million containers, earlier this month ordered 16 ships for delivery in 2010-2012, in addition to 18 new ships ordered in June for 2011-2012 delivery, as it sees continued strong shipping growth between the east coast of South America, Asia and Europe.
A.P. Moller-Maersk is planning to slash about half its container handling capacity in Taiwan's Kaohsiung, Asia's No. 6 port, when some leases expire in October, as the container shipping industry comes under pressure from a slowing world economy and rising fuel prices.
"But the intra-Asia trade is growing relatively more than between the regions, so Asia is probably more shielded from a downturn in the U.S. and Europe."
Maersk Line, which operates over 500 container vessels and 1.9 million containers, earlier this month ordered 16 ships for delivery in 2010-2012, in addition to 18 new ships ordered in June for 2011-2012 delivery, as it sees continued strong shipping growth between the east coast of South America, Asia and Europe.
A.P. Moller-Maersk is planning to slash about half its container handling capacity in Taiwan's Kaohsiung, Asia's No. 6 port, when some leases expire in October, as the container shipping industry comes under pressure from a slowing world economy and rising fuel prices.