Seoul: The Korean Won's dramatic slide is suddenly making it very competitive in relation to Chinese yards who continue to suffer from Beijing's strategy of appreciating the renminbi. Last week the Korean Won sank as low as 1415 to the the US dollar, nearly a 50% decline to the high of 908.25 reached in November 2007.
'Opportunities already exist in the newbuilding market as some of the Korean yards chase high Won returns at the expense of dollar newbuilding prices,' shipbroker Clarkson Asia noted in a weekly report. [13/10/08]
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