MOL expects massive loss on Japanese bulk giant

Japanese dry bulk giant Daiichi Chou Kisen has filed for receivership. Major shareholder MOL expects to book a one-off loss of around USD 211 million.

Photo: Rotterdam Havn

The Japanese dry bulk carrier Daiichi Chou Kisen has filed for receivership at a Tokyo court today, Tuesday, after trading of the company's shares was suspended on the stock exchange following rumors that the carrier was in deep financial trouble - and these financial woes are now hitting major Japanese shareholder Mitsui O.S.K. Lines (MOL) in a big way.

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