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Shipping Industry by raprapq is a document available to read on EtoBox.

The shipping industry is facing major challenges due to a decline in freight rates from five years ago. Many shipping companies are running at daily losses once operating expenses, overheads, and debt service are considered. Ship values have also fallen dramatically but are not accurately reflected on balance sheets. Significant changes are needed, including changes in management, reductions in overhead costs, and shrinking fleet sizes. If current market conditions continue through 2011, auditors will force

Author

raprapq

Language

EN