OOIL says Asia-Europe box rates in freefall

Company says importers are asking for large rate discounts as its reveals plunge in half-year earnings

Sandra Tsui - Friday 1 August 2008

CONTAINER freight rates on the Asia-Europe trade have dropped drastically in the last two to three weeks, confirmed Orient Overseas International Limited group chief financial officer Kenneth Cambie, as he unveiled a sharp fall in the company’s first-half earnings.

Large European importers have asked for significant discounts in the Asia-Eu...

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