On the face value of it, this already seems strange, the vessels were bought and ordered during economic boom times and at the writing of the circular a large recession was raging. Also, most acquisitions were done only about one year ago. Clarkson explicitly wrote the following in the circular (dated November 25, 2008):

Read →

Keep reading with a 7-day free trial

Subscribe to Asia Sentinel to keep reading this post and get 7 days of free access to the full post archives.