The owner of the world’s largest container shipping line will stop ordering newly built vessels and instead pursue takeovers in an industry that has been plagued by overcapacity for almost a decade.
A.P. Moeller-Maersk A/S, whose Maersk Line unit has repeatedly broken the world records it has regularly set in megacontainerships developed with Asian ship yards, “is done with ordering new steel,” Chairman Michael Pram Rasmussen told Bloomberg News at the company’s Copenhagen, Denmark, headquarters.
