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12 ships laid up so far

12 ships laid up so far
Container shipping firm Maersk Line, part of Danish oil and transport group A P Moller-Maersk A/S, has laid up 12 ships and will lay up five more.

Container shipping firm Maersk Line, part of Danish oil and transport group A P Moller-Maersk A/S, has laid up 12 ships and will lay up five more.

Container shipping firm Maersk Line, part of Danish oil and transport group A P Moller-Maersk A/S, has laid up 12 ships and will lay up five more, the company told Danish online media epn.dk. The firm has previously said it plans to lay up 25 vessels of its fleet of 500, due to the overcapacity in the market, where newly built ships are still appearing and force companies to maintain low rates, which make operations unprofitable.

According to epn.dk, however, Maersk Line's inactive ships are relatively fewer than in the case of its competitors.

The Danish group last month reported its largest-ever loss, as the net loss for the first half of 2009 amounted to DKK3.021bn, mainly due to Maersk Line, which had a loss of DKK5.4bn.

www.TurkishMaritime.com.tr

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