Finance and Insurance

Wellard in breach of its debt covenants again

Photo of Sam Chambers Sam ChambersJanuary 4, 2017
1 5 Less than a minute

Wellard, the Australian livestock shipper, has admitted it is once again in breach of its debt covenants.

Wellard said in a statement to the local stock exchange in Sydney it was working with its lenders to have the December 31 breach waived or have the relevant financial covenants amended to avoid being in default.

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Photo of Sam Chambers Sam ChambersJanuary 4, 2017
1 5 Less than a minute
Photo of Sam Chambers

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.

Comments

  1. The quicker any livestock shipper goes into default the better. Shipping live animals in this day of efficient freezer methods is quite unnecessary and very cruel.

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