Gearbulk denies defaulting on loan from MOL

Japan's MOL earlier this week heralded extraordinary losses from factors including a loan to Gearbulk. "We are not in default on the loan," the dry bulk company's managing director tells ShippingWatch.

Gearbulk collaborates with Grieg Star on dry bulk venture G2 Ocean, which operates open-hatch bulkers. | Photo: PR / G2Ocean

Norway's Gearbulk denies being in default on a loan from major shareholder MOL.

This happens after the Japanese company earlier this week heralded extraordinary losses from, among other things, a loan to the Norwegian bulk company, in which MOL owns a stake.

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