This Giant Ship Named By Princess Mary Of Denmark Is A Good Sign For The Global Recovery

MaerskCourtesy: Maersk

Last week Australia’s favourite royal, Crown Princess Mary of Denmark, performed the naming ceremony on the second of Maersk’s massive Triple E class of container ships.

Maersk says that the Triple E is 400m long, 59m wide and 73m high. It can carry 18,207 20ft containers – a world record.

Apparently this monolithic container ship can carry 111 million pairs of sneakers, 182 million iPads or 36,000 cars. Hereis a great infographic from a couple of months back we posted on BI.

Bigger is always better isn’t it? Maersk is really throwing the guantlet down to its rivals in the global trade transportation business.

Crown Princess Mary of Denmark naming the ship last week

But what is really intriguing about this is what this fleet of ships – Maersk is launching 20 – says about the state of the global economy and the recovery in trade.

Maersk says the Triple E stands for “Economy of scale, Energy efficiency and Environmentally improved”. So it’s going to be cheaper to run per tonne of cargo than any other ship.

But Maersk is still investing in the world’s biggest fleet of the world’s biggest ships. This has to signal that the global recovery is real and longer term sustainable.

Global shipping prices are indeed signalling that with the Baltic Dry index up from a 52 week low of 698 to sit at 2008 overnight that is back close to the 2011 highs and clearly Maersk thinks that the global recovery will see both prices increase and demand for these super-sized container ships grow.

Here is a video of the ship being built”

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