Maersk Line has announced that it is laying up eight 6,500 TEU vessels following alterations to a number of its services that has left the group with surplus vessel tonnage.
Instead of redeploying the vessels in its service network, Maersk Line has decided to end the use of the CV 65 class ships up to May/June 2009, predominantly in Asia.
'In view of the market conditions, we have reached the point where laying up eight vessels makes better economical sense than redeploying them,' said Michel Deleuran, head of network and product at Maersk Line. 'Freight rates remain under severe pressure, and in several corridors the rates do not fully cover our variable costs. Rate improvements are imperative for the industry to create a sustainable environment.'
And he hinted that there could be further changes to the group's services as it continues to optimise schedules and enhance port productivity.
'We make these changes to reduce capacity and save costs, while we at the same time seek to maintain or expand our service level and coverage,' Mr Deleuran added. 'For example, our recently announced Asia-Europe and Transpacific changes include more direct services.'
