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“The stubbornly low freight rate has deterred shipping companies from placing new orders because they expect vessel prices to keep dropping,” Amos Zhang, a Shanghai-based analyst at Shenyin & Wanguo Securities Co., said in a phone interview
today.

Photographer: Qilai Shen/Bloomberg

“The stubbornly low freight rate has deterred shipping companies from placing new orders because they expect vessel prices to keep dropping,” Amos Zhang, a Shanghai-based analyst at Shenyin & Wanguo Securities Co., said in a phone interview today.
December 27, 2012
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