Maersk Line to lay up eight vessels

Maersk Line will lay up eight 6500 teu vessels following recent changes to its Asia - Europe, Asia - Central America, and Transpacific service networks. The restructuring of its services has resulted in surplus vessel tonnage which the line has chosen not to redeploy in its service network. "In view of the market conditions, we have reached the point where laying up the eight vessels makes better economical sense than redeploying them. Freight rates remain under severe pressure, and in several corridors the rates do not fully cover our variable costs. Rate improvements are imperative for the industry to create a sustainable environment," says Michel Deleuran, head of network and product at Maersk Line. The line will continue to adjust capacity in light of market developments by optimising its schedules, consolidating services, vessel sharing agreements (VSA), enhancing port productivity, economical sailing (reducing speed), and – unless current market conditions improve – additional laying up of vessels, he added. The eight vessels that Maersk Line will lay up are of the CV 65 class. “We will lay them up from December 2008 to May/June 2009, predominantly in Asia.”