TWST: Let's start with an overview of your coverage.
Mr. Byde: I cover global shipping markets and also global logistics along with
colleagues based in New York and Hong Kong. My specific shipping coverage
includes A.P. Moller - Maersk, the world's largest container shipping company.
TWST: Let's start with the global view. What is going on in the marketplace at
this point? Demand has been strong, but is it still strong?
Mr. Byde: Specifically on container shipping, demand globally still seems to be
quite strong. We think that handling of container boxes by the liner shipping
companies is growing at about 13% annualized at the moment. That's a little bit
lower than last year, which we think was about 14%, but still strong.
TWST: The difference being generally weaker eco-nomies?
Mr. Byde: Yes, container shipping is driven by global consumer markets and those
are slowing down; there is quite a close connection between the two.
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