Freight rate rout grounds another carrier
China's Winland Ocean Shipping Corp files for Chapter 11 bankruptcy protection in US
Singapore
A SECOND dry cargo shipping company has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore, coal and grain rather than hire out the ships at a loss.
Weaker demand from China and an oversupply of ships have led to the worst industry downturn in 30 years, pushing the Baltic dry inde…
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Transport & Logistics
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