Crisis-stricken Japanese bulk carrier Daiichi Chuo Kisen Kaisha was unsuccessful in landing a restructuring agreement on Wednesday in Tokyo, and this has made the carrier's executive management postpone the rescue plan for the 120-year-old company.
According to Japanese business media Nikkei Asian Review, a shortage of investor interest and attractive bids have spurred the carrier to prolong the whole process, which has now gone on for about four months. The postponement is thus the most recent example of the abysmal crisis which has enveloped the dry bulk industry and is now making investors keep their distance even though prices are presumed to be extremely low.
Already a subscriber? Log in.
Read the whole article
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.Start a free company trial today
Your trial for ShippingWatch has now started
With your free trial you get:
Full access to all locked articles on ShippingWatch.
Daily newsletter and ongoing top-newsletters. You can unsubscribe and subscribe to our newsletters anytime.
When your trial period expires
You will not be transferred to a paid subscription.
You will continue to receive our newsletters after the trial period expires. You can unsubscribe at the bottom of each newsletter.