Friday, February 5, 2010

90% of World's Traded Goods Shipped by Sea; Maersk is #1 Container Shipper

Reuters reported on Feb 5 that Denmark's shipping industry, the world's 5th largest, saw earnings fall by 25% in 2009, to $26 billion US. The Danish Shipowners Association said the global economic crisis is affecting the shipping industry in the form of falling cargo volumes and freight rates. Danish shippers' foreign exchange earnings had hit an all-time high in 2008, so 2009 was a major fall off.

Some 90% of the world's traded goods by volume is transported by sea, and Danish shippers account for 10%. Danish shipping and oil conglomerate A.P. Moeller-Maersk's Maersk Line operates the world's No. 1 container shipping fleet. Maersk is scheduled to report full-year 2009 results on March 4.

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