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Article: Evergreen Marine to decommission 31 ships from fleet.(Shipping)
- Article from:
- Manila Bulletin
- Article date:
- July 9, 2009
CopyrightCOPYRIGHT 2009 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TAIPEI (Dow Jones) – Evergreen Marine Corp. will decommission 31 ships through 2013 by scrapping vessels and returning chartered ships to their owners, Evergreen Group public relations official Katherine Ko said Wednesday."We hope to mitigate the overcapacity situation. Rates on some US and Europe routes are below costs," Ko said.The decommissioning will reduce the company's fleet by about 17% if no new ships are ordered. Ko said the company may order new ships when prices are "reasonable."Evergreen Marine, Taiwan's largest container shipping company by revenue, has a fleet of 180 ships, about half of which are chartered. The company will start decommissioning older ...
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