Home Business How Maersk grew its shipping empire and how it is evolving

How Maersk grew its shipping empire and how it is evolving

by SuperiorInvest

Each year, about 90% of global trade is transported by ship, according to the World Economic Forum. While commodities such as oil and grain account for 40% of that cargo, large steel containers, filled with household appliances, smartphones and sofas, make up the rest.

With its fleet of more than 670 vessels, Maerskone of the largest shipping companies in the world, transports approximately one in five of those containers.

The company posted record profits in 2022 due in part to pandemic-induced shopping and increased freight rates.

But, like its rivals, Maersk faces a host of challenges including Red Sea diversions, a drought in the Panama Canal and a possible strike by the International Longshoremen's Association, North America's largest maritime workers union.

He also chartered the boat that crashed into the Francis Scott Key Bridge in Baltimore earlier this week.

CNBC examines the problems facing Maersk and its rivals Hapag-Lloyd and MSC, and looks at how the company is trying to transition for future growth.

Watch the video to learn more.

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