Sea sick; shippers cut rates in price war

Article Abstract:

Trans-Pacific shipping costs have plunged roughly 20% in 1995 and early 1996 in response to growing capacity, slack import demand from the US, and competition from independent carriers. A price-setting group of 10 dominant carriers expected more US demand, and boosted prices, leading shippers to use independent carriers that have been improving their service levels. The price plummet, which most favored the largest customers, may not be over yet, and could jeopardize the stability of mid-size carriers.

Ship Building and Repairing, Commercial Ships, Prices and rates, Shipping industry, Shipbuilding industry, Container ships, Merchant ships

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Capitalist retooling

Article Abstract:

Trading companies based in Hong Kong would have to restructure their businesses if they are to survive the competition that Latin America brings. Hong Kong trading companies compete through price and the emergence of the Latin American market is forcing them to compete through other means.

Management, Economic aspects, Cover Story, Trading companies, Hong Kong, Communism

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