Annually about 90% of world commerce is transported by ship, in keeping with the World Financial Discussion board. Whereas commodities like oil and grain make up 40% of that cargo, giant metal containers, crammed with home equipment, smartphones, and couches, make up the rest.
With its fleet of over 670 vessels, Maersk, one of many world’s largest delivery firms, transports about one in 5 of these containers.
The corporate logged file income in 2022 due partly to pandemic-induced shopping for and better freight charges.
However, like its rivals, Maersk is dealing with a variety of challenges together with Purple Sea diversions, a drought on the Panama Canal and a possible strike by the Worldwide Longshoremen’s Affiliation, the biggest union of maritime employees in North America.
It additionally chartered the vessel that crashed into the Francis Scott Key Bridge in Baltimore earlier this week.
CNBC examines the problems dealing with Maersk, and its rivals Hapag-Lloyd and MSC, and appears at how the corporate is making an attempt to transition for future development.
Watch the video to study extra.