[ethbr1]

Specifically, people forget that there always options to deploy limited capital.

   - Spend it on labor
   - Spend it on sales
   - Spend it on R&D
   - Fund capital improvements
   - Save it in bonds

Which is better for Maersk in a softening demand environment? To retain headcount or invest in capital improvements on their ships/facilities?

Their CFO office has definitely modeled relative ROI.

And, from a more socially conscious perspective, let's not forget the shipping industry is trying to budget massive capital expenditures to reduce their carbon footprint by reworking their ship powerplants.