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Bleak outlook for shipping ahead of new bank capital rules

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Published Thu, Dec 15, 2016 · 09:50 PM

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London

THE global shipping industry will hit a credit crunch if proposed new bank capital rules are implemented in a sector already weighed down by toxic debt, bankers involved say.

The Basel Committee of banking supervisors from nearly 30 countries met in Chile last month in an effort to complete the new rules for lenders in the world's major financial centres. It is now trying to pin down the details.

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