06 Mar '13, 1am

Maersk plans to add more vessels to its Singapore base

Maersk plans to add more vessels to its Singapore base

A.P. Moeller-Maersk A/S (MAERSKB) , owner of the world’s biggest container-shipping company, plans to add more vessels to its Singapore base after making the city-state its biggest hub after the headquarters in Denmark. Maersk has about 120 ships under the Singapore flag, the most after 180 in Denmark, Thomas Knudsen, president of the Maersk Line Asia Pacific region, said in an interview yesterday. Additions to Singapore have come at the expense of Hong Kong, where the company now has about 40, he said. “There’s a maritime cluster around Singapore where you have access to pretty much all the different aspects of shipping,” Knudsen said. “The last five years we have really cleaned up to concentrate on fewer flags to get the economy of scale. You can definitely get lower cost if you go to Panama or Liberia, but we feel that Singapore is a good combination of cost and quality...

Full article: http://www.bloomberg.com/news/2013-03-05/maersk-line-to-a...

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