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How shipping behemoth Maersk is navigating the global container crisis

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It’s a turbulent time for the shipping industry, which is dealing with surging consumer demand, a shortage of containers and bottlenecks at ports.

Maersk, the world’s largest container shipping company, has seen higher volume and record profits as shipping rates have skyrocketed. The Danish shipping firm, whose customers include Walmart and Nike, announced in May that its first-quarter revenue increased 30% from a year earlier to $12.4 billion.

“It’s tighter now than it’s ever been, and it’s not looking to loosen up anytime soon,” said Alan Murphy, CEO of marine consulting firm Sea-Intelligence.

Maersk has a fleet of over 700 ships and handles 1 in 5 containers shipped by sea. The company…



Source cnbc.com

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