(CTN News) – The World Economic Forum estimates Maersk that 90 percent of world trade is handled by ships annually according to its statistics.
Approximately forty percent of that cargo is comprised of commodities like oil and grain, while the remaining 60 percent is made up of large steel containers filled with appliances, smartphones, and couches that are usually shipped in bulk.
The largest shipping company in the world, Maersk, with a fleet of over 670 ships, transports about one out of every five of these containers as part of its worldwide operations as one of the world’s leading shipping companies.
As a result of the pandemic in 2022, Maersk’s shipping costs increased and purchasing increased.
This resulted in the company recording record profits as a result of increased purchasing as a result of the increased shipping costs.
Although Maersk Inc. is facing a number of challenges, like its rivals, such as the Red Sea Diversions, the drought at the Panama Canal, as well as the possibility of striking by the International Longshoremen’s Association, which has the largest membership base of maritime workers in North America.
Additionally, the vessel was also chartered by the company which chartered the vessel which collided with the Francis Scott Key Bridge earlier in the week in Baltimore, Maryland.
There are several challenges that Maersk faces today, and its rivals Hapag-Lloyd and MSC are also taking on these challenges, as well as how the company is trying to transition in order to grow more successfully in the future, as part of the program.
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