“Rates have increased, but more importantly, we have taken out costs by, among other things, reducing fuel consumption through slow steaming and better planning,” CEO Nils Smedegaard Andersen said in Maersk Post.
“We are more competitive today than before the crisis,” Andersen said, adding that cost cutting would continue across the group as competitors are doing likewise in the face of global market uncertainty in the second half of 2010 and beyond.