Shipowners cut their losses by scrapping deals for new vessels
Source : Nieuws van scheepvaart.startpagina.nl
Shipowners are forfeiting tens of millions of dollars to cancel contracts to buy vessels rendered uneconomic by one of the industry's sharpest ever downturns. Last week, New York-listed Genco Shipping announced it was forfeiting $53m ( £34m) in deposits it had placed to buy six new vessels due to cost a total $530m [..]
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