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Marco Polo Marine clarifies financial status

Marco Polo Marine has released a clarification announcement today that the risk factors it announced earlier this week should not be construed that it presently is unable or has doubt on its ability to operate as a going concern.

The company said in an announcement earlier this week that there may be a substantial doubt about the group’s ability to continue as a going concern due to growing financial difficulties.

Marco Polo Marine said it would like to assure investors and customers that its business fundamentals are sound, notwithstanding the volatile economic climate and sectoral weakness.

It also stressed that there will be no haircuts made to the principal amount of the notes to be redeemed on the amended maturity date and that all interest payable on the notes will continue to be paid to noteholders on schedule.

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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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