APL vice president Peter Hall has told the recent Containerisation International's Global Liner Shipping conference in Singapore that the company has no plans to cut more capacity because it had already made cuts during its fleet renewal programme.
APL tells Singapore shipping conference it will make no capacity cuts
APL vice president Peter Hall has told the recent Containerisation International's Global Liner Shipping conference in Singapore that the company has no plans to cut more capacity because it had already made cuts during its fleet renewal programme.
APL, the container shipping arm of Singapore's Neptune Orient Lines (NOL), has a 34-ship renewal programme which includes ten 14,000-TEU and ten 10,000 ships.
"Our deployed capacity actually shrank eight per cent," he said, reported Lloyd's List. "So we were trying to find the right balance between deploying more efficient, newer tonnage and yet not contributing to an over-tonnaged market."
Maersk said it is to limit capacity of its new 18,000-TEU Maersk Mc-Kinney Moller to 14,300 TEU to help balance supply and demand on the Asia-Europe trade lane.
Said Maersk Line CEO Soren Skou: "If market growth is zero next year, then we will take out more capacity to make our growth zero as well."