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Japanese bulk carrier files for court protection

Yet another Japanese dry bulk carrier files for court protection from bankruptcy due to the continuing dire rates in the bulk sector, marking the third unit to do so in a short period of time.

Carrier United Ocean Group now follows on the heels of several fellow Japanese players by filing for court protection from bankruptcy at the Tokyo City Court, reports Splash 24/7.

According to the media, United Ocean Group filed for court protection on December 31st last year, with a debt exceeding USD 1 billion.

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