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Tuesday, May 26, 2009

Next wave of Korean yard restructuring in the offing

Seoul: A second round of construction and shipbuilding firms in Korea facing restructuring will lay out their workout plans by the end of the month, bringing forward the timeline, according to financial authorities. Korea is increasingly worried by both the lack of new orders this year and the disappearance of bank finance to back up all the ship orders throughout the world’s largest shipbuilding nation.  [25/05/09]