Tuesday 30 October 2012

Sinking ships on troubled waters - The National

The oil tanker industry is steaming into choppy economic waters.

A global glut in capacity has claimed two more major victims in the past week.

Overseas Shipholding Group (OSG) is preparing to file for bankruptcy protection in the United States, while Euronav in Belgium is poised to sell off part of its fleet after posting a third-quarter loss.

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