Maersk Line Cut Its Market Capacity on South America-Europe Trade
Danish liner giant Maersk Line has cut its overall market capacity by 10 % on the trade between the east coast of South America and Europe and the Mediterranean amid weakening demand.
The company said it has started phasing in smaller vessels of between 4,500 and 6,500 TEU capacity so as to level out the supply and demand changes on the market.
The adjustment of capacity and reefer plugs was initiated as of the 5th of January 2015, with the aim of matching more accurately market demands, the company went on to say.
The said changes are not expected to affect the company’s services already in place on the route.
“We have over a longer period of time seen declining market demand on the popular trade between the east coast of South America and Europe and the Mediterranean. This weakening demand has led to substantial open capacity and resulted in a need to adjust our network to match the changing market forces,” Maersk Line said.
World Maritime News Staff