Maersk: Slow steaming here to stay

With prospects still murky for the global economy, Maersk Line sets out a clear course for slow steaming. It's here to stay. It reinforces Maersk Line's status as most reliable carrier, reports http://www.megafishnet.com/ with reference to Maersk.

It was easy to argue in favour of slow steaming back when the crisis wreaked havoc in international box shipping. Not only does slow steaming save energy and cut CO2 emissions, it also took boxes out of circulation, thereby stopping rates from tail-spinning. Slow steaming in fact absorbed 4.1% of the global fleet at one point, which in turn helped balance supply and demand, according to Alphaliner.

Now, with the global economy still shaky, but maybe improving, a formula for slow steaming's future has been found.

"For Maersk Line slow steaming is here to stay because it remains a win-win-win situation. It is better for our customers, better for the environment, and better for our business," says Eivind Kolding, Maersk Line CEO.

According to a 28 June review by the Liner Management Board in Maersk Line, slow steaming will continue, still with a keen eye for satisfying consumer demand.

"We believe we serve our customers best by steadily improving schedule reliability, by keeping fuel costs down, and by continuing to improve on our carbon footprint. The cost savings will enable us to further invest in innovation and improved service, for example with more efficiency at terminals," Kolding says.

In other words, while some customers have complained about longer inventory time - in essence with Maersk Line ships as floating warehouses - the analysis is that slow steaming helps prevent bottlenecks on terminals.

Maersk Line customers now know with a higher degree of certainty when their boxes actually arrive, and they can thus plan the forwarding better and more precisely.