Chinese slowdown sank Japan's Daichii Chuo

CEO of Japanese dry bulk carrier Daiichi Chuo apologizes for the "tremendous" inconvenience that the carrier's bankruptcy will cause, according to IHS Maritime. The slowdown in China is one reason for the carrier's downfall.

Photo: PR

"From the bottom of my heart, I apologise to our creditors, shareholders, and other company officials for causing tremendous inconvenience to everyone. In the future, under the supervision of the court and trustees, we will commit ourselves to regenerating the business."

According to IHS Maritime, these are the words of Masakazu Yakushiji, CEO of Japanese dry bulk carrier Daiichi Chuo Kisen Kaisha, after the company filed for bankruptcy yesterday, Tuesday.

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