Dry CargoGreater China

Great Harvest Maeta adjusts loan agreements

Hong Kong-listed bulk shipping operator Great Harvest Maeta Group has announced that it has entered into a series of supplemental agreements with banks to adjust the terms of existing loan agreement including vessel collateral ratio and repayment time schedule.

Great Harvest Maeta defaulted the bank loans in March this year and the new supplemental agreements have solved the issues with the banks. The company currently has total bank borrowings of $41.2m.

Great Harvest Maeta said in June that it is looking to diversify to non-shipping business amid the challenging outlook for the bulk shipping market.

Great Harvest Maeta owns four bulkers with a total capacity of about 275,138 dwt.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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