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Media: Pan Ocean-owner in debt plan attempt

Harim Group, owner of bankrupt-stricken bulk giant Pan Ocean, has a plan ready for the Korean company, which is struggling to survive in a dry bulk market that is far worse than at the bankruptcy in 2013.

Pan Ocean's owners, Harim Group, is confident that the former dry bulk giant, still Korea's largest bulk carrier, will get back on its feet.

Harim Group has outlined a plan for the company and for a restructuring of the company's debt that will benefit the shareholders, several of whom have lost upwards of 92 percent of the value of their shares, reports Bloomberg.

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