“I don’t think any government needs to throw money at container shipping, building ships that are not needed,” Mr. Skou told a maritime conference in Singapore. Denmark-based AP Moller-Maersk operates Maersk Line, the world’s biggest container shipping line by capacity, and a pioneer in the use of so-called megaships—massive vessels capable of carrying around 20,000 twenty-foot containers. ‘I don’t think any government needs to throw money at container shipping, building ships that are not needed.’ —Maersk CEO Soren Skou. The market will sort it out,” Mr. Skou said. “This is a very competitive industry,” Mr. Skou said.

Source: Wall Street Journal April 26, 2018 18:56 UTC