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Maersk Line COO: Damco decision was necessary

The decision to make Damco part of Maersk Line will cost jobs and will mean that functions that are currently based at the logistics company's headquarters in The Hague are moved to Copenhagen. But it was a necessary decision, explains Maersk Line COO Søren Toft in an interview with ShippingWatch.

It was a decision that had to be made. Because while Damco had already been promised a place in the future Maersk structure a few years ago, the independence the company has enjoyed until now had not been assured. Its financial performances had quite simply not been good enough, and furthermore, the companies in the container business generally need to work closer together.

As such, Damco has – as was also the case in particular for APM Terminals' major ports – been moved even closer to Maersk Line. In Damco's case, the company has been moved so far into Maersk Line that its name will now cease to exist.

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