February 16, 2009

Shipping Woes

The great global correction in trade continues to hit shipping companies hard. Barely a year old, Great Ocean Container Lines of Hong Kong will file for bankruptcy. And New Econ Line of Singapore is suspending operations. Also ceasing operation is Shandong Yantai International Marine Services. The China-Japan route has rates as low at $30 per TEU according to the SeaTrade Asia website...

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