Maersk to order more vessels from Chinese shipbuilders to boost capacity, says top official

This week's depreciation of the Chinese currency will help both international and domestic shipping operators in the region that have been stuggling of late with growing costs and rising competition, according to the head of the Maersk Group in North Asia.

Tim Smith, chief representative of the Danish shipping and energy conglomerate, said the moves by the People's Bank of China, the central bank, will strengthen Chinese manufacturers' ability to compete with their global rivals.