Monday, July 6, 2009

Daewoo Logistics Corp. files for bankruptcy

According to Lloyd's List

SOUTH Korea’s Daewoo Logistics has filed for receivership in the Seoul District Court, according to market reports.

Daewoo Logistics was much more than just a logistics company. They also (according to their web-site) were "rising into a General Carrier encompassing Car, Tank, Cement, with the center of Bulk Carrier".

I cannot determine if they owned or chartered their tonnage, as the fleet part of the web-site says "being updated" (no kidding).

It looks as if they got involved in too many things, without thinking there would be a downturn in international shipping.

Another one to add to the list of bankrupt companies.

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