Maersk Line did not panic in culling 4,000 jobs this week and made an obvious call in not exercising a host of newbuilding options, AP Moller-Maersk chief executive Nils Andersen says.

Earlier this week, the owner revealed plans to lose 4,000 positions hot on the heels of a profit warning amid a depressed container market.

As TradeWinds reported this morning, the Danish giant’s boxship division booked a profit of $264m, down from $685m a year earlier.

Andersen