Maersk to Idle Vessel
The world's biggest container-ship operator Maersk Line has confirmed market talk that it has temporarily idled one of its largest vessels - yet another sign that the industry is in dire straits, says a report in the The Straits Times.
Triple E mega-ship Morten Maersk - among the largest globally with a capacity of 18,000 standard containers - plys the Asia to North Europe route, calling at Singapore along the way.
The ship has been idle in the East China Sea off Shanghai since mid- October, owing to the Chinese Golden Week holiday, said the Copenhagen-based company. But it is expected to resume service in Busan, South Korea, next month.
The Danish conglomerate has been canceling or delaying orders for new vessels after years weathering a sharp downturn in the container-shipping market.
Recently, Jørn Madsen, who took over as new CEO of Maersk Supply Service this summer, went on record saying, "The current situation indicates that we may have to idle more ships in the future."
Chief operating officer Soren Toft said that Maersk Line expects its deployed capacity to remain "more or less flat" through next year, amid tepid market conditions.