According to the World Trade Organization, approximately 90% of world trade is transported by ship each year world economic forum. While commodities such as oil and grain accounted for 40% of the cargo, large steel containers filled with electrical appliances, smartphones and sofas accounted for the remainder.
Its fleet has more than 670 vessels, MaerskOne of the world’s largest shipping lines transports about a fifth of those containers.
The company posted record profits in 2022, driven in part by higher purchases and shipping costs caused by the pandemic.
But like its rivals, Maersk faces a host of challenges, including the diversion of the Red Sea, a drought in the Panama Canal and a possible strike by the International Longshoremen’s Association, North America’s largest maritime workers’ union.
It also chartered the boat that hit Baltimore’s Francis Scott Key Bridge earlier this week.
CNBC explores the issues facing Maersk and its rivals Hapag-Lloyd and MSC, and explores how the company is trying to transform for future growth.
Watch the video to learn more.
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