Maersk line's decision to lay up eight ships is expected to be the forerunner to a string of copycat cuts, setting up 2009 to be one of the worst years on record in terms of industry losses according to analysts approached by Fairplay. The sobering forecasts stem from Maersk's move to lay up eight 6,500teu container vessels for up to six months due to poor freight rates and an inability to cover costs on certain lanes. The lay-ups will mainly affect the Asian market. Maersk has also not ruled out more lay-ups if rates fail to improve.
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