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South Korea moves to rescue its shipbuilders with a $9.6 billion package

Posted by PortVision on Jan 4, 2017 6:07:00 AM

In May 2016 CNBC reported that bankruptcy was near for South Korean shipbuilders. Debt accrued due to the combination of a global trade slowdown, an oversupply of ships, and declining freight rates was threatening to put the world's largest shipbuilding industry out of business.

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