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Chinese container carrier declared bankrupt

Hainan PO Shipping has now been officially declared bankrupt by a Chinese court.

Chinese carrier Hainan PO Shipping has now officially been declared bankrupt, according to Sinoship News.

The shipping company suspended all its services back in September while it was trying to secure financial support from the government. These efforts have now failed, and the Hainan Yangpu Economic Development Zone People's Court has declared the company bankrupt.

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