High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
New York-based tanker company Overseas Shipholding Group announced last night that it has, in effect, fired its Chief Financial Officer and Treasurer, Mr. Myles R. Itkin, a man who has spent the last 18 years of his professional career managing the company’s finances.
In their release, they note that they have, “implemented a reduction in force intended to improve operational efficiencies in connection with the Company’s restructuring efforts,” and as part of that, Mr. Itkin will be clearing out his office, so to speak, to make room for his immediate successor, Captain Ian T. Blackley, OSG’s former SVP and Head of International Shipping Operations.
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