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Corporate hedging

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Times are hard for ship buyers in Asia. Given the massive demand for new tonnage, shipowners in Asia say they are having trouble securing more berths and tonnage at a reasonable price, as shipyards are at full capacity, says an official at Korea's Hanjin Shipping. "With global shipyard capacity booked well into 2010, shipbuilding is a seller's market," says research from Nomura on Korean shipbuilding dated June 8. As a result, shipbuilders can now pretty much pick their own terms for deliver