Søren Skou has delivered his first quarterlies as the new ceo of the Maersk Group and he is clearly unhappy with the results. The Danish giant managed a net profit of $118m for the three-month period, something Skou described as “unsatisfactory”.
Skou took over from Nils S Andersen as the ceo of the group on July 1, having previously been the head of the group’s container division, Maersk Line.
Skou noted that the costs in Maersk Line have been reduced to an “all-time low level” and are under $2,000 per feu for the first time.
The group will report on a strategic review of the company next month, which some have speculated could lead to the splitting up of certain divisions.
Looking at the Maersk Line results Lars Jensen, ceo of Copnehagen-based SeaIntelligence Consulting, suggested that Maersk Line has been pursuing a policy of chasing greater global market share by taking on lower paying cargo.
“Given the volatile and commoditized nature of the main trades, it therefore cannot be ruled out that Maersk Line has been one of the drivers of the eroding rates in their (successful) pursuit of higher market share,” Jensen noted in a report today.
Fair comment by Lars Jens; though perhaps the observation comes in rather late!!
“Given the volatile and commoditized nature of the main trades, it therefore cannot be ruled out that Maersk Line has been one of the drivers of the eroding rates in their (successful) pursuit of higher market share,”