Container consolidation is not over: Maersk’s Skou

Container consolidation is not over: Maersk’s Skou

Consolidation within the container space still has a way to go whereby there will be as few as just five global liners a decade from now, the head of AP Moller-Maersk has predicted in an interview with the Financial Times. Soren Skou, speaking ahead of Wednesday’s quarterly results, said the wave of merger and acquisitions seen in the past couple of years was not over.

“My prediction would be that the industry would consolidate further. A decade from now, we would be more in the five to six range,” he said.

Skou also made his first public comments about the cyber attack that crippled Maersk’s IT systems six weeks ago.

“I don’t think if I’d been asked before these attacks [could a hacker take down all our IT systems in 24 hours] I would have agreed . . . We need to do whatever we can to defend ourselves against hacking. We need to make sure we can shut it down, isolate [the infected systems] and restore [the rest] quickly,” Skou said.

Maersk’s quarterly results later this week will show just how much the cyber attack cost the Danish conglomerate.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts

1 Comment

  1. Avatar
    Gopal
    August 14, 2017 at 12:23 pm

    In the day and age that we are in “A decade from now” is more of a metaphor! One may take it with a pinch of salt that a decade from now will AP Moeller-Maersk be in existence as a Container Liner!! Perhaps another metaphor?