Korea Line Files for Receivership as Bulk Rates Fall (Update1) – Bloomberg.com

Transportation Jan 25, 2011 No Comments

The Baltic Dry Index, a measure of rates for vessels used to ship iron ore, coal and other commodities, fell 1.8 percent yesterday to 1,345, the lowest since Feb. 4, 2009.

Korea Line Corp., South Korea’s second-largest operator of dry-bulk ships, filed for receivership after a global oversupply of vessels caused rates to tumble to the lowest in almost two years.

via Korea Line Files for Receivership as Bulk Rates Fall (Update1) – Bloomberg.com.

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.