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Hi, need to submit a 1000 words essay on the topic Assessment Aim: To examine how shipping Company (Maersk) have responded to the slowdown in the global economy since 2008.According to Cozzolino (2012
Hi, need to submit a 1000 words essay on the topic Assessment Aim: To examine how shipping Company (Maersk) have responded to the slowdown in the global economy since 2008.
According to Cozzolino (2012, 400-560) the total asset of this company is estimated to be DKK374.72 billion in the year ending 2010. The total equity of Maersk Company was DKK192.96 billion. On average, it had employees summing up to 117000 the year ending 2012. It had subsidiary and offices in more than 135 countries worldwide. It is ranked 147 on wealth globally of the 500 list of 2011 position that is down from 107 in the year 2009 (Cozzolino, 2012, 439-467).
This was after the escalation of fuel prices and carbon dioxide emissions was a concern in global warming (United Nation, 2008, 78-89). The resulting innovation was slow steaming ships that made it cut down on fuel use and emissions of carbon dioxide gas. The year 2009, significant fuel saving and carbon dioxide reductions as a result of sailing at 12 knots instead of sailing at 24 knots resulted to slow steaming and as a result a standard operational procedure and methods for Maersk ships was found (Cozzolino, 2012, 356-400).
A Bunker leap was introduced to cut down on energy consumption and fuel expenditure, a strategy that resulted to slow steaming of the entire process into full focus. They found out that 4000 tons of bunker oil could be saved during round in Europe within a large ship as Emma Maersk to Singapore. Steaming engines were profitable on multipronged facet-making the engines, reduction on carbon monoxide and fuel consumption was also reduced (Cozzolino, 2012, 64-98). Maersk was then mandated to redesign ships engine that was low in consumption of fuel. These were after engineers convincing that the even though they were slow on fuel use and slow in speed they did not cause danger to the crew. These were applauded by united nation because global warming was becoming an issue in the world.
Another key area was generation of value in the chain of supply. This takes three different forms i.e. Value expansion, value creation or capture and value retention. In value
