(Bloomberg) -- A.P. Moller-Maersk A/S plans to expand its container fleet as Chief Executive Officer Vincent Clerc said the Covid pandemic has fundamentally changed the economics of shipping, creating a more volatile but potentially more profitable market.
The more bullish view of Maersk’s core Ocean business marks a re-calibration of its decade-old integrator strategy, which sought in part to reduce the company’s exposure to volatile freight markets by diversifying into logistics. Clerc said Maersk now needs to embrace those swings and give its shipping business more room to grow, a change that will require additional capacity.
