SAO PAULO, Feb 17 (Reuters) - Maersk Line, the world’s largest container ship operator, said on Wednesday it was consolidating its operations in Brazil, Paraguay, Argentina and Uruguay in a bid to cut costs amid falling freight rates.
Antonio Dominguez of Panama will be the new director of operations for the east coast of South America, the company said in a statement from Brazil. Latin America accounted for around 12 percent of Maersk Line’s global volumes in 2015.
Maersk Line is part of Denmark’s shipping and oil conglomerate A.P. Moller-Maersk. (Reporting by Roberto Samora; Writing by Caroline Stauffer; Editing by Chizu Nomiyama)