It’s getting increasingly ugly for shipping lines in the trans-Pacific market. Spot rates are sliding relentlessly with each passing week. Liners are starting to suspend entire service strings: Maersk just dropped two trans-Pacific services, MSC and Matson canceled one each.
Is Maersk CEO Soren Skou — whose company operates the world’s second largest liner company — getting worried yet?
He doesn’t sound worried, at least, not about Maersk itself.
Skou addressed questions on current market...