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You are here: Home → Archive → 2009 → October → Weekly Edition 8th of October 2009 → Orders face chop as line cuts costs

Orders face chop as line cuts costs

by Andrew Spurrier, Paris — last modified Oct 08, 2009 03:10 PM

CMA CGM has announced plans to renegotiate and cancel an unspecified number of newbuilding orders as part of continuing measures to reduce its costs.

The French group announced the measure at the same time as an agreement with its banks to help it find a solution to its recently revealed financial problems by mid-November.
It gave no details of the scale of the...

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