Every year about 90% of world commerce is transported by ship, in line with the World Financial Discussion board. Whereas commodities like oil and grain make up 40% of that cargo, massive metal containers, full of home equipment, smartphones, and couches, make up the rest.
With its fleet of over 670 vessels, Maersk, one of many world’s largest transport corporations, transports about one in 5 of these containers.
The corporate logged report income in 2022 due partly to pandemic-induced shopping for and better freight charges.
However, like its rivals, Maersk is going through a variety of challenges together with Crimson Sea diversions, a drought on the Panama Canal and a possible strike by the Worldwide Longshoremen’s Affiliation, the most important union of maritime staff in North America.
It additionally chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week.
CNBC examines the problems going through Maersk, and its rivals Hapag-Lloyd and MSC, and appears at how the corporate is attempting to transition for future development.
