* Maersk Line to cut Asia to Europe capacity further
* Says sees no growth on Asia to Europe trade in 2012
* Says has seen fall in trade volume as economies weaken
* Shares fall 0.8 percent
(Adds details, quotes, share price)
COPENHAGEN, Oct 12 (Reuters) - Danish oil and shipping groupA.P. Moller-Maersk said on Friday its containershipping unit would cut further capacity on the core Asia toEurope trade following low demand which shows no sign ofimproving.
The group, which earlier this week said it would cutinvestments in its containing shipping unit Maersk Line, said ithas seen a fall in trade volume and would consider furthercapacity cuts as the outlook for the economies of Europe andAsia remains weak.
"We expect a 3 percent slump on the Asia-Europe containertrades for 2012 and are taking steps to adjust to this," saidMaersk Line's chief trade and marketing officer Vincent Clerc.
"We do not expect volume growth on the Asia-Europe tradesthis year so there is currently no need for the number of shipssailing."
Maersk group said on Tuesday it would step up investment inits oil, ports and drilling businesses to cut exposure tocontainer shipping at the first capital markets day in thegroup's 108-year history.
Maersk Line said in the statement on Friday it wouldpermanently suspend its Asia to Europe AE5 service whichoperates 8 vessels, and temporarily suspend its Asia to EuropeAE9 service which operates 11 vessels, until early December2012.
The reduction would bring Maersk Line's total Asia to Europecapacity reduction this year to 21 percent, it said, having cutcapacity by 9 percent earlier in the year.
Shares in A.P. Moller-Maersk traded down 0.8 percent at 0841GMT against a 0.4 percent decline in the Copenhagen stockexchange's benchmark index .
(Reporting by Mette Fraende; Editing by Mike Nesbit)
((mette.fraende@thomsonreuters.com)(+45 26 30 96 73 ReutersMessaging: mette.fraende.thomsonreuters.com@reuters.net))
Keywords: MAERSK ASIA/