Maersk Line Won’t Cut Speeds Even as Oil Jumps, CEO Says
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Maersk Line, the world’s largest container shipping company, won’t cut sailing speeds further to reduce fuel costs, even after oil prices jumped 15 percent this year, Chief Executive Officer Eivind Kolding said.
“If we sail much slower, our customers may not be happy with the transit time,” Kolding, 51, said in a March 7 interview at Maersk Line’s Copenhagen headquarters. “The higher oil price has not made it more likely for us to increase slow-steaming.”