Maersk candidat à la reprise des navires de Hanjin ?
Maersk Should Lay Off the Swashbuckling - Bloomberg Gadfly
▻https://www.bloomberg.com/gadfly/articles/2016-09-27/maersk-should-steer-clear-of-hanjin
With an $11.5 billion liquidity reserve, Maersk is better placed to pursue opportunistic purchases than some over-leveraged rivals. Maersk’s cash probably isn’t earning much of a return right now, so the bar for returns on investment is presumably pretty low. Boosting its position in Trans-Pacific trade may make sense too, as it’s underrepresented there and scale’s important in shipping.
Yet despite all this, it’s hard to see how buying more shipping assets will solve Maersk’s growth and profitability problems. Customers are a fickle bunch and after Hanjin’s demise, most will already have made other arrangements to transport their goods (indeed, Maersk says it’s a beneficiary).
And history offers a sobering lesson here. After Maersk’s last big shipping acquisition — the $2.6 billion purchase of P&O Nedloyd in 2005 — about half the acquired market share later vanished, according to Drewry Martime Advisors’ estimate.
