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All the bulker owners who refinanced their vessels with Chinese leasing schemes over the past 5 years (the majority) will be really sad to discover that the Chinese virus has made it impossible for them to keep up with bareboat payments and their vessels will be forfeited to the Chinese.
Unlike a traditional bank loan, these leasing schemes don't even require a change of ownership. It's already owned by the Chinese, merely leased back to the original owner.
Serves them right, they trusted China.
