BGN Entrepreneur

Denmark’s Maersk Line, which is owned by AP Møller-Maersk and operates the world’s largest container ship fleet by capacity, is to significantly cut down the capacity in its Asia to Europe services. This strategic volte-face would possibly help end the damaging rate war in the industry sector.
According to the shipping line, it was announced that the oversupply of ships in the Asia to Europe route had pushed rates a container down to “unsustainably low levels”. Maersk plans to reduce its capacity in the most important long-haul container shipping routes by 9%.

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