Subscribe to RSS feedHapag-Lloyd to slash spending
by
Obsidian
—
last modified
Apr 02, 2009 12:00 AM
Hapag-Lloyd, Germany's leading container carrier, is set for a massive cost-cutting program that will see it save some US$360m this year.
The line will hand back chartered vessels to their owners and renegotiate charter contracts and arrangements with terminal and inland operators.
In addition, Hapag-Lloyd has declared a freeze on hiring new staff, Michael Frenzel, chief executive of German tourism...
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