Departing CEO: UASC had to buy bigger ships
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With Jørn Hinge's decision to step down from UASC in coming months, the Danish shipping figure's 50-year career will end at a time when the Arabian container carrier has been fighting a battle for survival, and at a time when the cash injections from the Arabian owners have been the only thing really keeping the company afloat. Annual losses totaling hundreds of millions of dollars became the new normal during a period in which other carriers, such as Maersk Line, were still booking big profits.
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