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2012 March 6   14:11

Maersk Line says plans more slow steaming

The world's biggest container shipping company, Maersk Line, said on Monday it planned to expand its use of slow steaming on Asia-Europe routes and also to introduce it in the Pacific, Reuters reports. The statement by Maersk Line, a unit of Danish shipping and oil group A.P. Moller-Maersk, follows its Feb. 17 announcement that it would remove 9 percent of its capacity from Asia-Europe trade lanes because overcapacity had knocked freight rates to unsustainably low levels.
Slow steaming, which means sailing at lower-than-normal speeds, cuts down on fuel consumption and tightens up the market by reducing available capacity as it takes longer for vessels to travel from port to port.

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