High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
SEOUL, July 9 (Reuters) – South Korea’s Daewoo Shipbuilding & Marine Engineering has won an order worth 481.2 billion Korean won ($417.61 million) to build three container ships, the company said on Tuesday.
The deal, made with an unidentified Asian shipper, will expire on July 31 in 2015, the shipbuilder said in a regulatory filing. ($1=1152.2750 Korean won) (Reporting by Hyunjoo Jin and Ju-min Park; Editing by Clarence Fernandez)
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