Vincent Clerc, CEO of Maersk: Bypassing the Red Sea
February 08, 2024 at 07:13 am EST
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Vincent Clerc, CEO of AP MOLLER MAERSK, describes a complex situation for the shipping industry. Faced with escalating tensions, Maersk has changed its shipping routes, now sailing south of the Cape of Good Hope and avoiding the Red Sea until it is safe to do so again. This measure, according to Clerc, may persist for some time, but the company is actively working with stakeholders to minimise the duration of this crisis and return to normal trade patterns.
On the economic front, despite the volatility, demand remains surprisingly stable. Maersk expects shipping volumes to grow between 2.5% and 4.5% this year, starting from a low base due to an inventory correction. Rates have risen in response to the need for rerouting and longer voyages, but this is not comparable to the disruption caused by Covid-19.
A.P. Møller - Mærsk A/S is the world's leading maritime transport company. The group's activity is organized around two sectors:
- maritime freight transport : at the end of 2023, operated a fleet of over 707 vessels (container vessels, tugs, supply vessels, gas carriers, and other specialized transporters). The group also offers port and logistical services;
- other: primarily activities related to shipyard construction, factory management (plastic and rubber products), and business holdings.
Net sales are distributed geographically as follows: Denmark (1.7%), United States (22.4%), China and Hong Kong (5.5%), Germany (3.3%), the United Kingdom (3.6%), Netherlands (3 .1%), Brazil (2.8%), Mexico (2.7%), India (2.7%), Spain (2.6%), Australia (2.5%), Singapore (1.9%) %), Costa Rica (0.7%) and others (44.5%).
AP MOLLER MAERSK 
