Maersk Group chief executive Nils Andersen has painted a bleaker than ever picture of the container shipping market.
He cites sustained overcapacity and weaker demand as the reasons why the world’s leading carrier is taking measures to slash capacity, both in yards and on the water.
If others are inspired to follow Maersk Line’s retrenchment, the move could act as a much-needed catalyst in a business where some of the lowest freight rates in history are eating into profits.
The
