A.P. Moeller-Maersk plans to add more vessels to its Singapore hub, Bloomberg reported.
Maersk Line, the container shipping division of the Danish shipping and logistics conglomerate, has about 120 ships under the Singapore flag, the most after 180 in the headquarters in Denmark, said Thomas Knudsen, president of the Maersk Line Asia-Pacific region, in an interview with a Bloomberg reporter. Additions to Singapore have come at the expense of Hong Kong, where the company now has about 40 ships, he said.
“The last five years we have really cleaned up to concentrate on fewer flags to get the economy of scale,” Knudsen said. “You can definitely get lower cost if you go to Panama or Liberia, but we feel that Singapore is a good combination of cost and quality.”