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MOL to cut another 10pc capacity after taking out 20pc
2009/2/19
TEN per cent more capacity is to be stripped from Japanese shipping giant MOL''s tonnage starting in April in response to the global downturn, reported Nikkei, Japan''s largest business daily.
This is in addition to the 20 per cent previously cut on the Asia-North America route and by 10 per cent on the other routes, the report said. Nikkei also said MOL had previously slashed Asia-Europe capacity by 30 per cent, but will not make any additional reductions.
"We plan to make an additional cut in our container transport capacity from April ahead of other shipping companies, as demand has been slumping globally since last autumn," an MOL spokesman said.
The cuts are to be applied to three of its four major routes, including the trans-Pacific, starting in April. "[Nikkei''s newspaper report] is not that far off the mark," an MOL spokesman told Newark''s Journal of Commerce.
The Nikkei report listed the intra-Asia and Asia-Southern Hemisphere routes as the others affected.
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2009/2/19