According to Mr. Michael Gaulin, Global Client Manager, Maersk Line has been on a chartering spree over the past fortnight. The Danish shipping giant is intensifying efforts to bridge the gap with its rival, the Mediterranean Shipping Company (MSC), which surpassed Maersk to claim the leading spot last year.
The recent surge in Maersk’s chartering activity comes at a time when charter rates are experiencing a rapid decline. In response to this market trend, Maersk has committed to chartering at least six vessels in the last two weeks. This proactive approach reflects the company’s determination to navigate the evolving dynamics of the maritime industry.
According to insights from Linerlytica, Evergreen Marine Corporation from Taiwan, a key player in expanding maritime capacity, has played a pivotal role in Maersk’s recent moves. Notably, Evergreen sublet one of its chartered ships, the SFL-owned 13,808 TEU Thalassa Elpida, to Maersk. While specific terms of the fixture remain confidential, it is disclosed that Maersk has secured the vessel for a period of three months.
This collaborative effort signifies a strategic alignment between two major players in the shipping industry. By leveraging available charter opportunities, Maersk is strategically positioning itself to optimize its fleet in response to market demands. The flexibility afforded by short to mid-term charters enables Maersk to adapt swiftly to changing conditions while maintaining operational efficiency.
A parallel move in mid-October saw Yang Ming Marine Transport, another Taiwanese shipping company, engaging in a charter agreement with Maersk. In this instance, a 12,690 TEU vessel owned by Costamare was chartered to Maersk for a duration of one year, at a rate of US$57,000 per day. This underscores Maersk’s commitment to securing vessels for extended periods, demonstrating a long-term vision in its chartering strategy.
Maersk’s proactive chartering approach aligns with the industry’s need for flexibility and adaptability in the face of evolving market dynamics. The company’s efforts to secure vessels from reputable players like Evergreen and Yang Ming reflect a commitment to operational resilience and strategic growth.
In summary, Maersk Line’s recent surge in chartering activities underscores its determination to regain its industry-leading position. Collaborative ventures with key players in the maritime sector, such as Evergreen and Yang Ming, position Maersk strategically to address market challenges. As the shipping landscape continues to evolve, Maersk’s agile response through chartering initiatives showcases its commitment to staying at the forefront of industry dynamics.
Source: Michael Gaulin [LinkedIn]
