• ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
  • ITVI.USA
    15,845.180
    -15.980
    -0.1%
  • OTLT.USA
    2.806
    0.013
    0.5%
  • OTRI.USA
    21.590
    0.130
    0.6%
  • OTVI.USA
    15,846.760
    -20.840
    -0.1%
  • TSTOPVRPM.ATLPHL
    2.950
    -0.570
    -16.2%
  • TSTOPVRPM.CHIATL
    3.610
    0.650
    22%
  • TSTOPVRPM.DALLAX
    1.370
    -0.240
    -14.9%
  • TSTOPVRPM.LAXDAL
    3.550
    0.210
    6.3%
  • TSTOPVRPM.PHLCHI
    2.320
    0.220
    10.5%
  • TSTOPVRPM.LAXSEA
    4.110
    0.250
    6.5%
  • WAIT.USA
    126.000
    0.000
    0%
American Shipper

Daewoo Logistics goes under

Daewoo Logistics goes under

   Daewoo Logistics has declared bankruptcy in a South Korean court, news outlets reported Monday.

   The Korean company, a spin-off of the bankrupt Daewoo conglomerate after the Asian financial crisis in 1998, is understood to have maturing debts that it cannot pay due to weak cash flow.

   According to a report in Fairplay, the final nail came as a rescue effort by the Korean steel giant Posco fell through. Evidently, other Korean shipping and logistics companies threatened a boycott of Posco if it went ahead with its acquisition of Daewoo.

   Daewoo Logistics started as a non-asset company but later diversified into ocean transport, operating a fleet of bulk carriers, car carriers and tankers, the Fairplay report said.

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