Leading shipping company Maersk has announced a US$15bn upgrade to its ships from 2015 to 2019.
Maersk Line will spend US$3bn a year on an estimated 30 new ships, replacing its older, smaller vessels.
“Due to our size, we need 425,000 TEU delivered between 2017 and 2019,” Maersk Line chief executive Soren Skou told analysts at Maersk’s Capital Market day in Denmark, according to Reuters.
The announcement comes as Maersk’s shares fell 3 per cent, though Skou added that Maersk expects to save US$350m a year from its vessel sharing agreement with Mediterranean Shipping Company.
