The pressure on small and mid-size container carriers will gain strength and make it completely unprofitable for them to continue in the industry, says Maersk Group CEO Nils Smedegaard Andersen in an interview with the Wall Street Journal.
"I can't speak for other companies, but small and mid-size carriers-controlling a 3 percent to 5 percent market share--with very few exceptions--have been unprofitable for the last seven years. After such a long period of not being profitable, it defies logic to continue to invest in the business," says Nils Smedegaard Andersen.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app