Subscribe to RSS feedBitter blow as lack of demand forces fleet to call it quits
by
Obsidian
—
last modified
Jan 08, 2009 12:00 AM
Britain's shipping heritage took a further blow last week as Coastal Bulk Shipping said it had ceased trading after the economic downturn forced a sharp decline in revenues.
Coastal Bulk Shipping, which was founded in 1951, said in a statement that demand for its fleet of small ships had reduced significantly.
The Kent-based company runs a fleet of 13 vessels between 1,200 dwt-2,250 dwt. It highlighted problems with...
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