Moller-Maersk A/S will cut hundreds of jobs to cut costs as the shipping giant prepares for significantly higher fuel costs next year and plans to invest more heavily in inland logistics services. “Maersk needs to build up our non-ocean services and this will affect ocean services,” one person familiar with the plan said. Maersk Chief Executive Søren Skou said this month that he plans to invest hundreds of millions of dollars in expanding inland logistics services next year. Maersk, the world’s biggest container ship operator by capacity according to data analyst Alphaliner, employs around 75,000 people in more than 120 countries. It has around 70,000 customers in its core ocean transport business, including a broad range of U.S. companies such as car makers and retailers.

Source: Wall Street Journal November 29, 2019 14:48 UTC