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Maersk: Shipping rebound losing steam

AP Møller-Maersk has provided evidence that container shipping’s sharp post-recession rebound is losing speed, warning that this year’s fleet expansion is likely to outstrip growth in demand to move goods.

Nils Andersen, Maersk chief executive, said prospects were “softening” compared with 2010, when container lines had benefited from a combination of fast-growing demand and a shortage of capacity to meet it.

“What we’re trying to convey is that 2011 will be a good year but probably not as good as 2010,” he said.

Read more at CNN

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