Searching for Plan B

Maersk Line is keeping its options open after the scrapping of its P3 Network tie-up with MSC and CMA CGM.

Chief trade and marketing officer Vincent Clerc told Bloomberg TV that the Danish containership owner was looking at how to cut costs and tackle industry over-capacity.

“We have different tools in our toolbox to activate,” he added. “We have to look more at how we operate the fleet, at the speed of services.”

China’s ministry of commerce blocked the deal this week over competition concerns.

Clerc said owners need to confront the prospect of falling prices and vessel-oversupply for years to come.

Analyst Sydbank said Maersk could lose $1bn of planned cost savings after P3 failed at the final hurdle, but the company is confident it can find alternatives.