Cargologicair sells off remaining stock and redundant staff can be paid
The remaining stock of Cargologicair, still under administration, is soon to be sold. The formerly ...
Ouch. This is going to be really painful for the people of Korea, but there would appear to be no other way out of the current impasse of massive shipping overcapacity than a complete root and branch restructure of its shipping and shipbuilding industries. The Korea Herald today reports that the country’s Financial Services Commission has called for a “three-track” system of restructuring to be undertaken in collaboration with the Korea Development Bank and Korea Import-Export Bank, which together hold ...
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