Hanne B. Sørensen, chief executive of A.P. Møller-Maersk’s third-party logistics subsidiary, will be replaced by current Maersk Line Head of East West Trades Klaus Rud Sejling, the company said in a statement.
The Shanghai Containerized Freight Index fell 3.5 percent from last Friday to a reading of 707.68, declining for the second straight week as the short-term boost after Hanjin Shipping filed for receivership at the end of August has now faded.
The Japanese ocean carrier has acquired a 25 percent share of EMAS Chiyoda Subsea, a construction firm specializing in offshore and subsea oil and gas facilities, from Singapore’s Ezra Holdings and Japan’s Chiyoda Corporation.
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Carriers may seek to "turn the table" on shippers who drove hard bargains, but an upturn in rates may be short-lived.
Following Hanjin Shipping filing for receivership, Hyundai Merchant Marine will start up two new services, one between Korea and the U.S. and one between Korea and Europe.
Various media reports have speculated the sale of South Korean liner carrier Hanjin Shipping, viewing COSCO and Maersk Line as possible buyers.