China's Winland Ocean Shipping Corp files for Chapter 11 bankruptcy protection in US
Thu, Feb 19, 2015 - 5:50 AM
CHINA FACTOR: China's imports tumbled 19.9 per cent from a year earlier. Weaker demand from China and an oversupply of ships have led to the worst industry downturn in 30 years.
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.