AP Moller-Maersk will slash capacity to meet falling container shipping demand in the coming months.
The Danish liner giant currently deploys about 4.2 million 20-foot equivalent unit (teu) capacity containers, but has been removing vessels from trades as shipping rates have fallen.
“If demand drops, then we will take capacity out in that same percentage,” chief executive Soren Skou told a conference call on Wednesday.
In the transpacific and Asia-Europe trades, around 15 percent of capacity has already been removed from the container shipping market, he said.
