Maersk raises 2011 container forecast, 8pc growth or more

AP MOLLER Maersk CEO Nils Andersen has upped the 2011 container market company forecast from six per cent growth in November to eight per cent, and expressed optimism for more growth despite a slowdown in the US and European recovery.

"We don't think we'll lose any market share this year," he told the World Economic Forum in Davos, Switzerland, and expressed confidence that Maersk would retain 14.4 per cent of the global cellular fleet.

The carrier lost some market share in 2010 due to lessening capacity but is confident of growth in 2011, and of gaining capacity on short notice.

Mr Andersen told Bloomberg he is expecting a year of record profits after its 2009 losses damaged its volumes and "at the end of the year we may actually see it's been growing faster than that.

"Of course there may be some issues in the developed market, slow growth because of lack of competitiveness, but the whole world will grow pretty fast," he said in response to worries of a so-called double-dip recession.

London's Drewry shipping consultants latest forecast on 2011 prospects is of "stability" and a seven per cent growth annually for the next five years.