Reuters’ Jonathan Saul reports that Britain's oldest
shipping firm, Stephenson Clarke Shipping Ltd, has gone into liquidation after
nearly 300 years of trading, becoming a casualty of the worsening global
downturn.
Established in 1730, Stephenson Clarke had tried to sell its
ships and cut costs in the face of crashing rates for dry bulk shipping on
which it relied - transporting cargoes such as coal, grain and iron ore.But
liquidator Tait Walker was appointed on Aug. 3, the company and liquidator said
in a statement.
"Whilst previous economic downturns have been
weathered, the current market is one of the worst experienced for many years
with no upturn forecast for at least 12 to 18 months," a spokesman for the
company said....
Read all about it at http://in.reuters.com/article/2012/08/09/shipping-britain-idINL6E8J98XV20120809
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