Deals
Maersk Ends Mega-Ship Building Era With New Acquisition Plans
- Maersk has been a pioneer developing world’s largest vessels
- Chairman prefers to buy rivals instead of ordering new ships
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The owner of the world’s largest container shipping line will stop ordering newly built vessels and instead pursue takeovers in an industry that has been plagued by overcapacity for almost a decade.
A.P. Moeller-Maersk A/S, whose Maersk Line unit has repeatedly broken the world records it has regularly set in mega container ships developed with Asian ship yards, “is done with ordering new steel,” Chairman Michael Pram Rasmussen told Bloomberg at the the company’s Copenhagen headquarters.