Maersk Lines expects improvement in the Asia-Europe trade in the second half of 2015, according to Maersk China chairman and chief representative of Maersk Group in North Asia Tim Smith.
Smith said increase in demand and freight rates for the trade is possible if carriers, including Maersk Line, agree to adjust capacity.
The Asia-Europe trade volume decreased 3% year on year in the first half of 2015.
He added that although the recent devaluation of yuan will boost China’s exports, it may also make imports more expensive, affecting liner services.
However, Maersk remains upbeat about the outlook of China’s imports trade, as the company is confident that the Chinese economy will mature, increasing consumption.
Maersk Line’s profit for the second quarter of 2015 was USD507 million, down by 7.3% on a year ago, dragged down by a sharp decline in the average freight rate.
The company posted profit of USD1.1 billion for the same period, down 52% on a year ago, impacted by lower oil price and average container freight rates.
This post was sourced from IHS Maritime 360: View the original article here.