South Korean liner operator SM Line Corporation has asked executives to take a 10% salary cut as the company suffers from falling container volumes amid the COVID-19 outbreak.
SM Line was established in 2016, after the Samra Midas Group acquired the remaining portfolio of bankrupt Hanjin Shipping. The company operates intra-Asia and trans-Pacific services, using 17 ships with combined capacity of around 74,000TEU.
COVID-19 surfaced in Wuhan, China, in December 2019, but has since spread nearly...
https://container-news.com/sm-line-executives-take-salary-cut-as-covid-19-hits/