Nils S. Andersen, chief executive of shipping and oil giant A.P. Moeller-Maersk, cautioned that global trade will never return to pre-recession growth rates, in part because the U.S. and EU are moving manufacturing closer to home, according to an article in the Financial Times.

The Maersk CEO said changes in trade from Asia would have a substantive effect on the container industry, since EU and U.S. firms are shifting manufacturing bases to home countries or Mexico, according to an interview with the Financial Times. He also said in the FT interview that the diminishing size of electronics would require less and less container space, contributing to falling freight rates in coming years.

Andersen was fairly upbeat last week about the company’s prospects in the face of falling oil prices,

according to statements he made while attending the World Economic Forum in Davos, Switzerland.

Maersk has significant operations in oil exploration, drilling and transport, and the recent drop in global oil has hit the company, Andersen said in an interview with the Wall Street Journal.

But he noted that those same price drops were helping the company’s own shipping costs, and unleashing global demand for the trade of goods. "The global demand for containers should go up," Andersen said. "As we see it, low oil prices should help the European economy generally."

For more of the Financial Times story: www.ft.com

For more of the Wall Street Journal story: www.wsj.com

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