The South Korean government is launching a new company with $0.8 billion of initial, and $5.5 billion of eventual, finance to support the country’s shipping industry. This will include the purchase and re-leasing of existing fleets as well as supporting the construction of new vessels. The move would undermine the capacity discipline that is needed to support revenues and profits of the shipping industry globally this year. Panjiva analysis shows exports of new vessels by South Korea fell 16% in the 12 months to November 30, while those from China fell 19%. The latter may choose to react...