What began in 2009 as a reactive measure to the U.S. economic downturn is now becoming standard operating procedure for the ocean freight industry. Steamship lines are starting to take containerships out of operation as rising fuel costs and falling freight rates threaten profitability, according to Maersk Line CEO Soren Skou. About five percent of global container capacity-equivalent to 800,000 TEUs-is currently out of action.
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