Maersk, which bought Hamburg Süd last year for $4 billion, is…
Maersk, which bought Hamburg Süd last year for $4 billion, is “taking one for the team” by reducing fleet size. Its current fleet of 750 ships includes 400 chartered vessels – i.e. it doesn’t own them. Maersk will not start retuning them to their owners until freight rates improve. The hope is that reduced capacity will support higher container rates and wipe out Maersk’s $239 million quarterly operating loss.
Super long trains (around 3 miles), powered by up to 4 of the new, higher powered locomotives (2 in the front, 1 in the middle and 1 at the end) are 20% less costly on a car by car basis. Running on main routes like LA to Chicago, they are the darling of investors but are being challenged by angry motorists and on a safety basis.
