Source : scheepvaart.startpagina.nl
Shipowners are forfeiting tens of millions of dollars to cancel contracts to buy vessels rendered uneconomic by one of the industry's sharpest ever downturns. Last week, New York-listed Genco Shipping announced it was forfeiting $53m ( £34m) in deposits it had placed to buy six new vessels due to cost a total $530m [..]
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