Maersk CEO Calls For End to Shipping Subsidies
Costas Paris April 26, 2018
Soren Skou, head of the world’s biggest container ship operator, says government backing of carriers is creating overcapacity, distorting markets and pricing
AP Moller-Maersk AMKBY 0.64% A/S Chief Executive Soren Skou is calling for governments to withdraw their financial support for container shipping lines, saying subsidies and other backing are causing overcapacity and profit-crushing price reductions across the maritime industry.