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04 August 2020 The on-line newspaper devoted to the world of transports 14:05 GMT+2

May 12, 2008

Shipbuilding Torpedoed by Subprime Causes Cost Surge

By Todd Zeranski

The biggest shipbuilding boom in history collided with the largest credit-market losses ever, undermining forecasts for a plunge in freight rates.
As much as $14 billion in ship orders is threatened by cancellations and delays, equal to 94 percent of annual revenue at Hyundai Heavy Industries Co., the largest shipbuilder ......
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