Western Bulk divests claim against South Korean carrier
Western Bulk pockets USD 12 million by divesting a claim against the South Korean dry bulk giant STX Pan Ocean, which filed for bankruptcy last year.
BY LOUISE VOGDRUP-SCHMIDT
Norwegian dry bulk carrier Western Bulk has managed to divest its claim against South Korean STX Pan Ocean. The deal means that Western Bulk can pocket USD 12 million as the carrier follows the lead of J. Lauritzen. The Danish carrier sold off its STX Pan Ocean claim in April this year.
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