'Forwarders are with us' as we drive into logistics, says Maersk
Maersk’s integrator strategy has not lost its support from freight forwarders, according to its ocean ...
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By Mike Wackett
AP Moller Capital, the fund manager of APMM, appears to be supporting Maersk’s strategy of developing logistics capabilities to transform into a global integrator, and has signed an agreement with South African RCL Foods to acquire its frozen food logistics division, Vector Logistics.
Chairman Robert Maersk Uggla said Maersk “was on a journey” in its aspirations to be a global logistics integrator.
He said: “Many of our customers have primarily seen us as a shipping company on the world’s main shipping lanes, ...
Comment on this article
Rajeev Kathuria
March 30, 2023 at 2:58 pmThis is important because to have the Different Stream of Revenue to stay afloat
Muhammad Tahir
March 30, 2023 at 8:19 pmThe acquisition of Vector Logistics by Maersk is a strategic move in the company’s plan to transform into a global logistics integrator. This move is in line with Maersk’s pivot towards more integrated logistics offerings and inter-regional activities, which has resulted in a 20% organic revenue growth in logistics in 2022.
However, the outlook for global shipping markets is challenging, with headwinds replacing tailwinds, and a decline in volumes in the final quarter of 2022 resulting in the number of containers transported back at 2017 levels. This highlights the cyclical nature of the shipping industry, and Maersk’s operational profit of $31bn last year will see it return nearly $11bn to its shareholders, with future dividends expected to be substantially lower.
Mr Uggla’s identification of supply chain vulnerabilities and risks, including geopolitics, climate change, and labour markets, is an important reminder that companies, including Maersk’s customers, need to prepare for continued vulnerable supply chains and require resilient sourcing and logistics solutions. As Maersk continues its journey towards becoming a global logistics integrator, it will need to navigate these risks and uncertainties to ensure its continued growth and success.
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Adrian Pinna
April 04, 2023 at 12:13 pmRobert Uggla has hit the nail on the head