Tung said he expects the firm's container traffic to fall 20 percent to 30 percent in early 2009, and that it may take two to three years for the industry to see positive growth. Tung also said OOCL won't renew contracts on 13 or 14 chartered vessels that are due to expire this year.
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| Tung |
OOCL has been active in service suspensions along with its Grand Alliance partners and those in the New World Alliance. The two alliances stopped a Black Sea/Asia service earlier this month, and the Grand Alliance members halted an Asia/Europe string in January.
