The company, which is part of the Cargotec group, said redundancies amount to around 8% of its global staff of 2,750.

“The possible measures for the personnel reductions will be initiated locally according to the requirements and legislation of each country,” Cargotec said.

However, it said the largest impact of the planned measures would be felt in Sweden, Singapore and Norway.

The company has been hit by a combination of the low oil price and the low number of new merchant ship orders.

MacGregor,