Market insight: DP World's Kenya deal – a hornet's nest?
One hellvua supply chain scrap could be shaping up
The latest twist in the sad and sorry tale of Vietnam’s national shipping company and shipbuilder, Vinashin, this week saw the arrest of a former sales manager who had, on the paltry earnings of a shipping line rep, managed to accrue 40 properties and five luxury cars. Prosecutors allege that he and Vinashin’s chief executive colluded to fix vessel prices artificially high. In one case a secondhand Italian vessel was acquired for $67.6m and retired after just 39 voyages. Vinashin’s debt pile is currently sitting at $4.5bn.