Maersk Line sees intra-Asia trade growing 3-5% in 2016

Singapore

MAERSK LINE remains positive about prospects in intra-Asia and South-east Asia trade despite a slowdown in China's economic expansion and these will support its staff numbers in Singapore.

Maersk Line's group chief operating officer Soren Toft said at a media roundtable on Tuesday that intra-Asia trade is expected to grow 3-5 per cent in 2016, higher than its global forecast of 2-4 per cent.

The year of 2015 has been disappointing partly on China failing to deliver as the world's locomotive. But Maersk Line is still positive on intra-Asia trade volume, not least by the sheer size of the population and continuing expansion of income per capita in this region, Mr Toft said.

The Danish giant, a top player in global container shipping, sees cost restructuring including an announced 4,000 cut to its shore-based staff worldwide by 2017 as necessary to maintain it…