Japanese shipyard closes down

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Tokyo: Medium-sized shipyard Kanasashi Heavy Industry has closed down due to it being unable to obtain the necessary loan capital from any bank.
According to Clarkson’s information, the orders Kanasashi holds is enough for next three years. There are 16 vessels in all and most of them are break bulk vessels between  21,500 and 33,400 dwt with a total value of about 72.2 billion yen. Kanasashi Heavy switched from ship repair to newbuildings two years ago. It is based in central Japan. [08/04/09]