Japan’s Daiichi Chuo has announced that the company will implement a reform in operations from April 1, as part of its post-restructuring efforts to optimise business.
According to the plan, the company will reorganise the departments in its heardquarters and set up a new business department for specialised vessels and large-sized vessels. It will also get rid of several existing business departments including tramp shipping, nearshore shipping and domestic shipping.
When it filed for court protection in Tokyo at the end of September 2015, Daiichi Chuo was Japan’s fifth largest shipping line with a fleet of around 170 ships. The company exited court rehabilitation in September 2016. According to VesselsValue, currently the company’s fleet has been dramatically downsized to 52 vessels.