Maersk Line quits calls at ten Chinese ports, due to optimization of services and cost reduction. The company will cease services at small ports, which are currently served by by feeder vessels and connected to the large intercontinental loops. Maersk Line quits calls at ports of Luzhou, Yingkou, Jinzhou, Chizhou, Rizhao, Lijiao, Taiping, Yueyang, Jiaoxin and Nansha old port and will release feeder services to local companies. The container operator will turn business to more profitable ports and intercontinental loops.
“The closure of service in these Chinese ports should not be interpreted as a change of strategy”, said Maersk Line in official statement, but refused further comments are this stage.
Maersk Line stays i=under pressure from the stagnation of the container shipping market, due to overcapacity, low freight rates, delaying Asian economy and lowed East-West trade volumes.
On Friday, AP Moller-Maersk group will publish a finance statement for the second quarter and markets expect Maersk Line to post 67 million USD loss due to currency fluctuations and low freight rates.