Maersk Sees Deeper Cost Cuts at Shipping Line
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A.P. Moeller-Maersk A/S said its container-shipping line, the world’s largest, can do more to cut costs as freight rates continue to decline.
Measures will include slowing vessel speeds further to save fuel costs, the Copenhagen-based company said today in a presentation. Maersk Line’s partnership with Mediterranean Shipping Co., which still requires regulator approval, will result in $350 million annual savings, it said.