Icelandic shipping and cold storage group Eimskip is caught in a financial storm, partly brought on by an ambitious expansion programme, but acerbated by the financial chaos that has overtaken Iceland.
The group is adamant that its core shipping operations - Eimskip, Containerships, Eimskip-CTG and Faroe Shipping - are performing well, but it is exposed to anticipated downturns in the liner container market in the US and could also be susceptible to a slowdown in the Russian market, which would impact on Containerships’ performance....
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This complete item is approximately 350 words in length, and appeared in the October 2008 issue of WorldCargo News, on page 19.
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