OOCL results point to loss of market share
Elevated freight rates over the course of last year nearly doubled Hong Kong-based Cosco subsidiary ...
By Mike Wackett
Japan’s MOL said today that it is forecasting a massive $1.45bn loss for its fiscal year ending 31 March, after deciding to take the full hit of its dry bulk and container shipping restructuring into its fourth-quarter results.
It said that it wanted to “address the abruptly changing business climate” by withdrawing from certain sectors of the dry bulk market and taking steps to rationalise its container business, particularly on north-south routes.
“As soon as the details of each measure are determined, ...
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