By Kang Siew Li

THE liner shipping industry is one of the most mismanaged industries in the world, where undercutting has become a regular practice and part of the business, says Kelang Multi Terminal Sdn Bhd (KMT) executive chairman Tan Sri G. Gnanalingam.

He said this was reflected in the decline in Asia-to-Europe ocean freight rates from US$4,000 (US$1 = RM3.80) per TEU (twenty-foot equivalent unit) in 1970 to US$2,500 in 1980. In 2000, rates softened further to US$1,500 and US$600 last year ......
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