Greenship Bulk Trust to close

Greenship Bulk Trust to close

Greenship Bulk Trust, which is in the midst of selling its fleet of 14 ultramaxes, will be closed down later this year.

Related proceeds for the fleet sale will be distributed to the unitholders in two tranches, the first this month and the second coming in September, after which the Jacques de Chateauvieux vehicle will be shuttered having run into extreme financial difficulties over the past couple of years.

Nine ships have been sold to Eagle Bulk so far with the sale of the remaining five close to being finalised.

For de Chateauvieux the failure of Greenship Bulk has added to the enormous headaches he already faces in the offshore sector where vast swathes of his giant Bourbon OSV fleet are currently laid up.

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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