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Freight rate rout grounds another carrier

China's Winland Ocean Shipping Corp files for Chapter 11 bankruptcy protection in US

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.

Weaker demand from China and an oversupply of...

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