philadelphia, pa april 1, 2009 ocean freight ocean carriers in recession
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DESCRIPTION
Raymond Tsang April 1, 2009 Ocean Freight 3 Carriers Actions Carriers will need strong cash flow generation to support their financial leverage in a deteriorating industry environment. A number of carriers have decided to trim their cost by taking steps such as : > consolidating routes and sailings > entering vessel-sharing alliances > laying up ships > returning chartered ships > adding ships to service strings as part of slow-steaming strategies to conserve fuel > laying off staff and reducing back office support functions