Japanese owner K Line has revealed plans to slash its chartered fleet to boost earnings as losses are forecast to approach $900m this year.
The "structural business reforms" include the cancellation of "uneconomical" charters for boxships and small and medium-sized bulkers worth JPY 50bn ($447.5m).
It also wants to reduce market exposure and will examine 25 of its fleet-types in the 12 months to 31 March next year.
