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Day: October 27, 2009

Three Japanese Carriers Post Losses

Japan’s three largest shipping lines, NYK Line, MOL and “K” Line, on Tuesday reported losses for the first half of their fiscal years ended Sept. 30 as the global recession cut shipping volumes and rates in all sectors of their...

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German Ship Owners Face Market Collapse

German container shipowners, who control a third of the world box ship fleet, are facing increasing financial difficulties and the threat of bankruptcy as charter rates test fresh lows with the end of the peak shipping season....

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Shipping industry may take longer to recover

Though green shoots of recovery have started appearing in the global economy, the shipping industry is unlikely to emerge from the slump for the next two or three years, according to business executives and analysts. “The...

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