The container shipping arm of logistics giant AP Moller Maersk should be better positioned in a year's time, according to group chief executive officer Nils Andersen.
Speaking to the company's own publication, Maersk Post, Andersen said that the recent performance of Maersk Line, the group's container shipping arm, had been disappointing, but said that its current strategy and development in freight rates pointed to an improvement over the next 12 months.
'Although we are not as well positioned as we hoped to be a year ago, the early signs are positive and I am optimistic that Maersk Line will be in a much stronger position in a year's time,' he said.
Andersen added that Maersk Line would aim to cut out any remaining unnecessary costs and would work to restore rates by expanding its fleet only as fast as the market, Reuters reported.
