Top shipper Maersk Line positive but no need for new capacity
HONG KONG Jan 11 (Reuters) - Maersk Line, the world's biggest container ship operator, said on Friday it sees no need for new capacity in the industry for the next couple of years and while conditions will remain challenging, it sees potential for the company to achieve better results in 2013.
Maersk Line, a unit of Danish group A.P. Moeller-Maersk and barometer of world trade as its fleet carries more than 15 percent of all sea-borne containers, returned to profit in the third quarter thanks to a rebound in shipping container rates, after four consecutive quarters of losses.
"We hope to be able to build on this momentum and deliver overall returns which provide an acceptable return on the capital we invest," North Asia chief executive Tim Smith said.
"In this regard, we believe 2013 provides some potential to deliver a better result than 2012, although market conditions remain challenging," he added.
In terms of capacity, Maersk would only grow with the market. "We don't want to do anything to undermine the fragile supply and demand balance," he said.