Truckers demand regulation as coronavirus tanks shipping rates
Trucking companies are at risk of going under as shipping rates decline. FOX Business’ Jeff Flock with more.
COPENHAGEN (Reuters) – Maersk will cut jobs in a major shake-up that will affect a third of the shipping giant’s staff as it seeks to integrate its seaborne container and in-land logistics businesses, it said on Tuesday.
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A.P. MOELLER-MAERSK A/S
Maersk, which handles about one in five containers shipped worldwide, has been under pressure from investors to speed its transformation from an unwieldy conglomerate but has proved resilient in the face of the COVID-19 pandemic.
MAERSK, WORLD'S BIGGEST SHIPPER, EXPECTS 25% DROP IN CONTAINER DEMAND
Cost cuts and its reinstatement of more upbeat guidance last month have helped to double its share price since March and the shares were trading 0.9% up at 9,652 crowns by 0835 GMT.