KELLY: CHO YANG MAKES “ADJUSTMENTS” IN STAFF, SHIFTS IN VESSELS

KELLY: CHO YANG MAKES “ADJUSTMENTS” IN STAFF, SHIFTS IN VESSELS

KELLY: CHO YANG MAKES “ADJUSTMENTS” IN STAFF, SHIFTS IN VESSELS

   Ed Kelly, a consultant and former president of Cho Yang (America) Inc., said Friday the Korean ocean carrier has made “adjustments in personnel and shifts involving some ships.”
   Speaking about industry reports of financial troubles, Kelly said “Cho Yang continues to do business as a vessel-operating common carrier, and will be expanding its presence where feasible.”
   “There’s been a lot of confusion and erroneous statements. We’ll shortly be setting the record straight,” he added.
   Kelly denied reports that Hanjin will take over operation of a number of Cho Yang vessels.
   Rutherford, N.J.-based Cho Yang will retain an office in the New York region, Kelly said. He added that the line may be less involved with intermodal operations as its restructuring goes on.
   The Park family in South Korea, which owns the company, is committed to meeting Cho Yang (America)’s obligations in a way that allows it to continue operations, Kelly said.
   Kelly resigned last week as Cho Yang’s president, but rejoined the carrier as a day-to-day executive consultant.