By Christian Wienberg

(Bloomberg)– The proprietor of the globe’s biggest container delivery line will certainly quit getting recently developed vessels and also rather go after requisitions in a market that has actually been afflicted by overcapacity for practically a years.

A.P. Moeller-Maersk A/S, whose Maersk Line system has actually consistently damaged the globe documents it has actually routinely embeded in huge container ships established with Asian ship lawns, “is done with ordering new steel,” Michael Pram Rasmussen informed Bloomberg at the the firm’s Copenhagen head office.

“If Maersk Line needs to grow, it doesn’t make sense to order new ships as there are already too many ships in the market,” Rasmussen claimed. “So if we want to grow, we need to do it through acquisitions so that we don’t flood the market with more ships.”

Maersk Line still has 27 ships in its order publication, representing concerning 12 percent of its existing fleet. The container sector’s consolidated order publication stands for concerning 17 percent of the worldwide fleet.

Meanwhile, the delivery sector is dealing with dropping products prices triggered by a mix of overcapacity and also a downturn in worldwide profession development. Hanjin Shipping Co., South Korea’s most significant container firm with 97 ships, just recently declared personal bankruptcy defense in Seoul.

As just recently as 2015, Maersk Line positioned orders with ship lawns Daewoo Shipbuilding & & Marine Engineering Co., withHyundai Heavy Industries Co and also withCosco Shipyard Co The ships schedule for distribution in 2017 and also 2018.

The 11 vessels from Daewoo will certainly lug a document 19,630 standard-sized containers and also set you back $1.8 billion each. They are the second-generation variation of the supposed Triple- E course vessels that Maersk established withDaewoo The Danish firm in 2011 purchased 20 Triple-Es, which lug concerning 18,000 containers each.

“It has previously made a lot of sense when we went out and ordered specific vessels,” Rasmussen claimed. But “there’s already a large order book in the market and at the same time, world trade isn’t growing a great deal.”

Maersk on Thursday exposed a brand-new technique that consists of splitting the corporation right into a transportation and also a power firm. Rasmussen claimed Maersk Line is “well-equipped and ready,” for procurements.

While he decreased to talk about particular targets, he states alternatives consist of delivery lines that run primarily on profession courses overlapping with Maersk’s, which will certainly “give us a lot of synergies.” It’s additionally considering competitors that are solid “in an area where we aren’t present,” so they “fill a hole” in Maersk Line’s network, he claimed.

© 2016 Bloomberg L.P