Report: Maersk to Reduce Capacity, Raise Rates

Wednesday, September 26, 2012

According to a report in the Wall Street Journal, A.P. Moller-Maersk A/S is set to address the continued sluggish global trade numbers by reducing its capacity and raising rates, in addition to more slow-steaming measures to reduce the near-term pressures of operating a containershipping company today.
While the company, and many in the sector, have systematically reduced capacity since the beginning of the year by slowing ships down, it appears more changes are needed in the face of a lingering global economic malaise with no sure signs of recovery.
The WSJ report was not specific on the exact capacity reduction, but did report a rate rise of 10 to 11 percent on Asia-Europe routes by year's end.
(Source: Wall Street Journal, Staff)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Damen Begins Construction of Second Facility at Antalya Shipyard

Damen Shipyards has refurbished a second 12,000 square meter shed at its Antalya, Turkey shipyard for the production of the Damen Fast Crew Supplier 5009, the company announced today.

E-marine Begins Fleet Expansion

E-marine, a provider of submarine cable installation and repair solutions in the Middle East and Sub-Continent region, has unveiled plans to expand its fleet of cable ships in 2015,

VT Halter Launches ATB Tug for Bouchard

VT Halter Marine launched ATB tug Kim M. Bouchard for Bouchard Transportation at Moss Point Marine facility on February 26, 2015. Measuring 150 feet long, the 10,

Ship Repair & Conversion

Fire Aboard US Navy Ship

A fire broke out aboard a U.S. Navy amphibious dock landing ship USS Gunston Hall (LSD 44) at approximately 2 p.m. yesterday while the ship was undergoing maintenance

Kvichak, Vigor Announce Merger

Merger positions combined company to play a dominant role in recapitalization of North Pacific fishing fleet and emerging Arctic oil gas operations. Kvichak

Shipping Contributes $164bln to EU

The European Community Shipowners' Associations has released the results of a recent update of an Oxford Economics study on the economic value of the EU shipping

Container Ships

CaroTrans Adds New Asia-US Service

CaroTrans, a global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, announced a new all-water LCL (less than container-load) import

Cosco Boxship Detained Over Illegal Arms

Colombian authorities detained a vessel operated by China's largest shipping group for illegally transporting thousands of cannon shells, about 100 tonnes of gunpowder

Rotterdam Port Receives Largest Box Ship

The MSC Oscar arrived on Tuesday (yesterday) at the APM1 terminal in Rotterdam. With a capacity of 19,224 TEU (20-foot containers), the 396 meters long and 59

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1318 sec (8 req/sec)