Maersk CEO Says Balancing Supply of Ships to Demand Is Years Off
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A.P. Moeller-Maersk A/S, owner of the world’s largest container line, said the shipping industry must learn to live with excess capacity.
Given the current order book for container vessels, achieving equilibrium between supply and demand “is not an immediate thing,” Chief Executive Officer Nils Smedegaard Andersen said in an interview. Industry estimates point to a balance being reached in 2015 or 2016, with Copenhagen-based Maersk on the “slightly more pessimistic side,” he said.