The next morning.
Zhongtian Law Firm.
"In recent years, due to weakening global economic recovery momentum, trade frictions between East and West have intensified.
Combined with the global economic crisis, the OPEC production cut agreement, and the maritime sulfur cap order, the growth of international maritime trade has been sluggish, and the volume of crude oil trade bleak.
This has resulted in the oil shipping market operating at a low level, with freight rates consistently depressed and new ship prices continuing to fall.
In this environment, the performance of global shipping companies has been affected, resulting in a significant number of shipbuilding order cancellations.
This includes the Norway Ship King—John Frederiksen.
His international crude oil transportation company 'Searill' is the plaintiff that has filed a lawsuit against our client 'Bin City Shipyard'."
