The container shipping business is set to go on growing this and next year, the head of Maersk Sealand, the container unit of Denmark's A. P. Moeller-Maersk, said on Friday.
Stubkjaer's comment came after he spoke at a container conference held in London on Wednesday, where his projections diverged from those of analysts, who have forecast a slump in the container market in 2005.
Container rates have risen over the past year due in part to an export boom in China and the ensuing price rises on routes from Asia to Europe and the US
While industry analysts have projected that the supply of new shipping tonnage would surpass demand for container transport, Maersk stands firm in its outlook.
"Our presentation in London showed that the development in 2004 and 2005 will be positive," Stubkjaer said.
Maersk Sealand is the Maersk group's biggest unit, generating a turnover of 90 billion Danish crowns ($14.38 billion) in 2003.