Table of Contents
Much has been made of the effect falling commodity & consumer demand has had on industry and retail. What of the companies whose job it is to transport the goods these businesses sell & use? This report looks at the difficulties falling commodity and consumer demand has had on Maersk Line, and how Maersk has become a victim of its own success amid a capacity glut, and its response, the P3 Network.
Features and benefits
* Looks at the travails of the shipping industry, analyzing the dry bulk cargo index, Baltic Dry Index (BDI), and container shipping index the HARPEX.
* Looks Maersk Line's fleet of new vessels, the Triple-E, and how they will effect the shipping industry and its capacity glut.
* Analyzes the capacity glut, and Maersk Line's response through the creation of the P3 Network, looking at what impact this alliance will have.
New vessels ordered during a boom period, when demand outstripped supply, were delivered during the financial crisis. The perfect storm of increased capacity and a fall in demand created a major capacity glut. The P3 Network aims to address this by decreasing the number of vessels but increasing capacity, thus creating improved economies of scale.
The P3 Network will see a decrease in the number of vessels on the relevant routes, yet increased capacity resulting in improved economies of scale. At the same time CO2 emissions will be reduced, and further cost savings found through improved fuel efficiency. Yet, each member is still able to compete with one another for each and every container.
Your key questions answered
* What impact did the financial crisis have on the shipping industry? How and why did the capacity glut occur?
* How has the dry bulk index (Baltic Dry Index) and container shipping index (HARPEX) reacted to the financial crisis and the capacity glut?
* What is Maersk Line's response to the capacity glut? What benefits do Maersk's Triple-E vessels bring to container shipping?
* What is the P3 Network? What impact will the P3 Network have on the container shipping industry?
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