Japanese conglomerate Sumitomo Corp has confirmed it is reorganising its shipping activities, but details of what parts of its business will be affected remain sketchy.
The move comes as Triton Navigation — the company's Netherlands-based shipowning subsidiary — is understood to be selling off its fleet and is being wound up.
TradeWinds understands that staff have signed redundancy agreements and Triton and its parent are trying to handle the company's exit...
