March 16, 2020 / 9:31 AM / 25 days ago

BRIEF-Harbor Star Shipping Services Inc Expects Reduction Of Revenue Due To Less Foreign Vessels

March 16 (Reuters) - Harbor Star Shipping Services Inc :

* EXPECTS REDUCTION OF REVENUE DUE TO LESS FOREIGN VESSELS CALLING THE PHILIPPINES

* KEY PERSONNEL MAY BE EXPOSED TO COVID-19 WHICH MAY NEGATIVELY AFFECT THE OPERATIONS OF THE BUSINESS

* PROJECTING REDUCED REVENUE IN HARBOR ASSIST UNIT DUE TO COVID-19, INITIATED INTERNAL COST SAVING TO REDUCE FIXED COSTS BY 5-15%

* MEASURES IN HARBOR ASSIST UNIT INCLUDED TERMINATING OUTSOURCED NON-ESSENTIAL SERVICES, RENEGOTIATING WITH/CHANGING SUPPLIERS Source text for Eikon: Further company coverage:

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