Maersk Line to downscale long-term contracts

Maersk Line has been losing money on the global East-West routes for years. Now ShippingWatch has learned that the carrier is working to do away with the traditional strategy of long-term customer contracts.

Photo: Leth Suez

After many years of systematically losing money on its core business - the East and Westbound routes between Asia and Europe - Maersk Line is now working to break from the carrier's historical strategy of tying a great part of its container business to long-term, typically one-year, customer contracts. Instead the carrier plans to increase its exposure to the short-term spot market in an effort to boost its profit on the world's busiest container route, according to several market sources ShippingWatch has spoken to.

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