Maersk sees box rates plagued by overcapacity, cuts jobs to reduce costs
November 4, 2023 Comments Off
A.P. Moller-Maersk is seeing a prolonged pressure on freight rates from severe overcapacity and has embarked on 10,000 job cuts to protect its profitability, the Danish container line said Nov. 3 while reporting much weaker third-quarter results. In its latest quarterly report, Maersk said market conditions are “challenging” amid soft demand and large newbuild deliveries and the company has to…
Maersk sees box rates plagued by overcapacity, cuts jobs to reduce costs
A.P. Moller-Maersk is seeing a prolonged pressure on freight rates from severe overcapacity and has embarked on 10,000 job cuts to protect its profitability, the Danish container line said Nov. 3 while reporting much weaker third-quarter results. In its latest quarterly report, Maersk said market conditions are “challenging” amid soft demand and large newbuild deliveries and the company has to…
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