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Bank crisis? Wait for the newbuilds timebomb
Sub-standard ships made in China may turn the clock back for shipping and its insurers
Jerry Frank - Thursday 16 October 2008
THE THREAT that the global credit crisis now places on financing the world newbuilding fleet — let alone the global economy and seatrade — is very real, if difficult to quantify.
The capital needed for these new vessels may not be quite as dizzying as that used to shore up the banking sector, but the orderbook value is now variously es...
