A.P. Moller-Maersk is targeting emerging markets as a growth area for its business in 2011.
The parent of Maersk Line set a priority this year to move toward “tipping the balance” of its accumulated business “from the old to the new markets,” Nils Andersen, CEO of A.P. Moller-Maersk said in the latest issue of Maersk Post, its corporate magazine.
Although the article does not specifically mention which markets it would focus on developing, its tenor would suggest that Maersk Line plans to concentrate more resources on the north-south trades with Latin America, Africa and Australasia.
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This would include oil and gas exploration in emerging markets, as well as ocean transportation. Another article in the magazine said Maersk Oil and Gas is getting ready to explore for oil in the Gulf of Mexico.
Andersen said Maersk Line is better prepared this year to deal with the volatility he sees for some years ahead.
“Our container business is able to up- or downscale capacity on shorter notice, and we have taken a number of concrete steps to improve planning, decision-making and reviewing for all business units to obtain more visibility and further reduce our reaction time,” Andersen said.
He said that while debt problems are slowing recovery of the U.S. and European economies, global trade is increasing and will continue to do so. “This is especially true of the emerging markets, where economies are developing rapidly, and a growing middle class demand more imported consumer goods.”
“We already have a strong presence in emerging markets, but one of our priorities for 2011 is to tip the balance of our business from the ‘old’ to the new markets and dedicate even more attention and investments for them.” Andersen said.
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