Executive Briefings

Moeller-Maersk CEO Predicts China to Ramp Up Its Imports

The head of A.P. Moeller-Maersk A/S, owner of the world's biggest container shipping line, said China's efforts to boost domestic consumption and pare reliance on exports will help carriers as imports into the country may gain.

"With the new leadership coming and focusing on slightly different things, we will have more focus on domestic consumption, boosting the living standards of the Chinese population," Chief Executive Officer Nils Smedegaard Andersen said. "It will create great opportunities for companies like us because imports will increase."

Demand for toys, electronics and clothing in North America and Europe helped China become the world's biggest exporter in 2009, boosting business for container lines. Policy makers in the world's most-populous country are now trying to push the economy toward a more consumption-focused development path in their bid to boost growth.

"Increasing imports into Asia means that fewer container boxes will be moved empty, generating revenue for shipping lines," said Shin Ji Yoon, an analyst at KTB Securities Co. in Seoul. "There has always been an imbalance in trade, where containers leave Asia full but return empty."

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"With the new leadership coming and focusing on slightly different things, we will have more focus on domestic consumption, boosting the living standards of the Chinese population," Chief Executive Officer Nils Smedegaard Andersen said. "It will create great opportunities for companies like us because imports will increase."

Demand for toys, electronics and clothing in North America and Europe helped China become the world's biggest exporter in 2009, boosting business for container lines. Policy makers in the world's most-populous country are now trying to push the economy toward a more consumption-focused development path in their bid to boost growth.

"Increasing imports into Asia means that fewer container boxes will be moved empty, generating revenue for shipping lines," said Shin Ji Yoon, an analyst at KTB Securities Co. in Seoul. "There has always been an imbalance in trade, where containers leave Asia full but return empty."

Read Full Article