Greenship Bulk in default, seeks debt payment restructuring

Greenship Bulk in default, seeks debt payment restructuring

Greenship Bulk, which trades over-the-counter in Oslo, has admitted it is in default of debt payments and is holding discussions with creditors to restructure its debts.

The Jacques de Chateauvieux vehicle said in a release today: “The difficult market conditions lead the company to enter into discussions with its lenders in view of obtaining a restructuration of its debt.

The contemplated solution includes a capital increase. Until a mutually acceptable solution can be reached, the company started to retain principal repayments in February 2016 and is currently in situation of default.”

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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