The shipping industry has had a tough couple of years. Falling demand, rising fuel costs, and labor issues have all contributed to some major shakeups in the industry. The most dramatic was the fall on Hanjin, which was forced into bankruptcy and left millions of dollars of freight literally adrift.
Maersk Line accounts for roughly half of A.P. Moeller-Mahas revenue. They have been actively engaged in major cost cutting measures but continued to see their profits drop to $429 million from $755 million a year ago. At the same time their market share has risen dramatically. Consolidation and elimination of competitors has reduced the overall number of providers to a point where by they and two others will account for 43% of market share by next year.
Revenues are down, but the number of containers they are shipping is up by 11% when the typical growth is 2-3%. If they can make it out of this slump alive they will have another great story to add to their legacy, but this is probably the most painful way imaginable to gain market share.