Maersk Line CEO: Container shipping consolidation next step after alliances

Consolidation between container shipping lines is required to alleviate the pressures of weak demand according to Soren Skou the CEO of Maersk Line.

Skou told The Wall Street Journal: “We are getting the expected benefits from vessel-sharing agreements, but more can come from consolidation.”

He added: “Maersk Line spends half a billion dollars in [information technology] every year. It is big money. In consolidation, the cost would be shared. It is the same with operating individual headquarters and the cost of containers.”