Creditors seize Uljanik Plovidba tanker

With one of its tankers seized by creditors over the weekend, troubled Croatian shipping line Uljanik Plovidba has submitted an application at a local court for the opening of pre-bankruptcy proceedings.

A syndicate of international lenders led by Credit Suisse seized the company’s Pomer MR tanker as collateral for outstanding debt on Saturday.

Uljanik Plovidba has four bulkers and two handy tankers in its fleet. The company issued a release yesterday claiming it was still confident it could push through a restructuring.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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