Maersk: Shipping prices are unsustainable
SHIPPING: A worldwide glut of containers and a fall in demand for shipped goods during the global financial crisis have pushed shipping prices to unsustainable levels, the director of sales at Maersk Line Gerard Morrison said on Tuesday.
Mr. Morrison told a conference here that Maersk is now making a loss of 217 US dollar on every 40 foot container that runs between Melbourne and the Chinese port of Qingdao, he said.
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