Monday, October 27, 2008

OOCL looks to slash capacity

Hong Kong: Orient Overseas Container Line may cut capacity 16 percent.

"There is no doubt we're heading for a very tough market," Chief Financial Officer Ken Cambie told the adding that the cut may be considered only in the "worst-case" scenario. The company is currently in talks with partners in the Grand Alliance on whether to idle ships, Cambie said in Singapore.
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