Cargo Volumes Up On Asia Recovery

Thursday, May 25, 2000
Cargo shipping volumes are picking up as Asia recovers from the recent economic crisis, a partner of Danish shipping and oil conglomerate A.P. Moeller said. A.P. Moeller is the parent of Maersk Sealand, the world's leading container shipping line with a fleet of some 250 vessels. Bjarne Hansen said that work on integrating U.S. Sealand, acquired by A.P. Moeller last year, with the group's own Maersk container li, Hansen said. The merger of Maersk and Sealand had caused hardly any loss of customers, he said, despite A.P. Moeller's management fearing that some customers might give their business to other shippers to avoid excessive exposure to one company.

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