Maersk Line wants a larger share of shipments generated from imports to China as the country's economic growth pattern translates to stronger domestic demand, said Tim Smith, CEO of Maersk's North Asia division in an interivew with China Daily.
The transported volume related to China increased by more than 10 percent, three percentage points higher than the global gain, contributing 25 percent of the company's global volume and 35 percent of its total export volume.
"We've seen a development in the import market in China that will help the overall demand. We are looking at that very closely," Mr. Smith said.
Smith, a 25-year veteran of the shipping industry, describes the business situation in 2010 as "strange" following unpredictable growth patterns quarter-on-quarter.
The second quarter this year saw strong growth followed by unexpected average growth in the third quarter, and a slight decrease in the fourth quarter, which is unusual due to the annual expected year-end seasonal demand.
Although the recovery of mature markets such as Europe and US is still not strong enough, robust economic growth in emerging markets will spur further grounds for optimism, said Smith, estimating a global demand growth of eight percent next year compared to 2010.
Volume on transatlantic routes increased by three percent year-on-year in the first nine months this year, while volumes rose by seven percent on transpacific routes and 16 percent on Latin America and Oceania routes.
Mr. Smith expected a continuous rise of freight demand in Asia, Latin America and Africa for next year. For the increasing container freight capacity, which would affect freight rates, he predicted a 10 to 12 percent year-on-year capacity growth as more new ships are delivered to owners in 2011.
He said it is difficult to predict how much freight rates will increase in the future but based on current levels, the company expects to see good profit ahead.
The transported volume related to China increased by more than 10 percent, three percentage points higher than the global gain, contributing 25 percent of the company's global volume and 35 percent of its total export volume.
"We've seen a development in the import market in China that will help the overall demand. We are looking at that very closely," Mr. Smith said.
Smith, a 25-year veteran of the shipping industry, describes the business situation in 2010 as "strange" following unpredictable growth patterns quarter-on-quarter.
The second quarter this year saw strong growth followed by unexpected average growth in the third quarter, and a slight decrease in the fourth quarter, which is unusual due to the annual expected year-end seasonal demand.
Although the recovery of mature markets such as Europe and US is still not strong enough, robust economic growth in emerging markets will spur further grounds for optimism, said Smith, estimating a global demand growth of eight percent next year compared to 2010.
Volume on transatlantic routes increased by three percent year-on-year in the first nine months this year, while volumes rose by seven percent on transpacific routes and 16 percent on Latin America and Oceania routes.
Mr. Smith expected a continuous rise of freight demand in Asia, Latin America and Africa for next year. For the increasing container freight capacity, which would affect freight rates, he predicted a 10 to 12 percent year-on-year capacity growth as more new ships are delivered to owners in 2011.
He said it is difficult to predict how much freight rates will increase in the future but based on current levels, the company expects to see good profit ahead.