“Big Three” Korean Shipbuilders & Their Huge Shipyards in a World of Overcapacity and Collapsed Orders
Years of “growth at any cost” led to accounting fraud, huge government bailouts, and murky restructuring plans. By MC01, a frequent commenter on WOLF STREET: Worldwide orders for newly built commercial vessels peaked in 2007 at 85.3 million Compensated Gross Tonnage (CGT) and have never recovered, despite the boom in the intercontinental maritime trade, especially with … Read more