Maersk Line Prepared to Withdraw Capacity to Increase Utilazation » Ship & Bunker
Maersk Line CFO Jakob Stausholm says it has options, but one of them is to withdraw capacity.
Maersk Line says it is prepared to withdraw services in order to make up for a drop in utilization, Shipping Watch reports.
"We have different tools in the toolbox that we need to use. One of them is that we will withdraw capacity where it's needed," Jakob Stausholm, chief financial officer for Maersk Line, told Shipping Watch.
"This could concern services in Asia-Mediterranean and West Africa."
Maersk Line's inability to fill vessels was revealed in its first quarter 2015 report, which otherwise beat analyst expectations with a 30 percent increase in profits to $1.6 billion.
Jakob Stausholm, chief financial officer, Maersk Line
We have different tools in the toolbox that we need to use. One of them is that we will withdraw capacity where it's needed.
Demand for containers in Q1 2015 was said to have been lower than expected with growth of 1.8 percent.
"The global economy grew less than we had thought; this has affected the utilization of the vessels and we must react to this," said Stausholm.
"We won't know for another few months whether this has had an effect on our market share, but there is no doubt that we will do what it takes to defend our ambition of growi....