How Maersk grew its shipping empire and how it’s evolving
Each
year
about
90%
of
world
trade
is
transported
by
ship,
according
to
the
World
Economic
Forum.
While
commodities
like
oil
and
grain
make
up
40%
of
that
cargo,
large
steel
containers,
filled
with
appliances,
smartphones,
and
couches,
make
up
the
remainder.
With
its
fleet
of
over
670
vessels,
Maersk,
one
of
the
world’s
largest
shipping
companies,
transports
about
one
in
five
of
those
containers.
The
company
logged
record
profits
in
2022
due
in
part
to
pandemic-induced
buying
and
higher
freight
rates.
But,
like
its
rivals,
Maersk
is
facing
a
range
of
challenges
including
Red
Sea
diversions,
a
drought
at
the
Panama
Canal
and
a
potential
strike
by
the
International
Longshoremen’s
Association,
the
largest
union
of
maritime
workers
in
North
America.
It
also
chartered
the
vessel
that
crashed
into
the
Francis
Scott
Key
Bridge
in
Baltimore
earlier
this
week.
CNBC
examines
the
issues
facing
Maersk,
and
its
rivals
Hapag-Lloyd
and
MSC,
and
looks
at
how
the
company
is
trying
to
transition
for
future
growth.
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