A P Moller Maersk, the world’ largest container shipping company, has said it plans to increase its fleet size in Singapore.
Group CEO Nils Anderson said the number of ships they own in Singapore will surpass 100 in a couple of years, from the current 80-plus vessels.
Speaking at the fifth Singapore Maritime Lecture on Wednesday, Mr Anderson also said Singapore is facing the risk of rising prices and it has to remain cost competitive with other countries.
He said: “One risk that I believe Singapore is facing is the risk of rising cost levels. Again we are facing competition from the rest of the world and it’s very necessary that the cost levels here are kept in line with what we can pay, so that no businesses are driven out for just that reason. The core part of the business has to be competitive.”