Hong Kong: Mired in myriad legal battles Transfield ER Cape has filed for liquidation in the British Virgin Islands (BVI). The Chinese charterer controlled by Peter Mok has suffered a huge volume of chrter defaults in the past couple of years. The liquidation should see most of the legal cases against it dropped. What happens to Transfield's newbuild programme, however, remains unclear. Transfield has five 180,000 dwt capesizes on order at Dalian Shipbuilding Industry Corp and three 92,500 dwt kamsarmaxes at Shanhaiguan Shipyard. Souces in Hong Kong report that Peter Mok has already formed new chartering firms headquartered in Beijing. [21/10/10]
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