CPSE:MAERSK BShipping
Maersk Cuts Jobs And Restores Suez Routes To Protect Margins
A.P. Møller - Mærsk (CPSE:MAERSK B) plans to cut around 1,000 jobs as part of a wider cost reduction program.
The company is responding to industry wide overcapacity and prolonged weakness in freight rates.
Maersk and Hapag-Lloyd are reintroducing services through the Suez Canal while Red Sea security risks persist.
The operational changes affect key Asia Europe and other long haul container routes that rely on Suez access.
A.P. Møller - Mærsk, a major global container shipping and...