Hutchison megadeal reveals dark side of container shipping
What money cannot buy
Seoul’s Korea Ocean Business Corporation said it planned to help finance 20 new feeder vessels for the South Korea-Japan route.
The ten 1,000 teu and ten 700 teu units would be placed on long-term bareboat charters to support South Korean feeder operators, who cited rising newbuilding costs as a hurdle to renewing their fleets.
Based on the estimated newbuilding price of $20m, the project could cost up to $400m, although KOBC may start with an order for four to eight vessels.
Jung Seong-jo, ...
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