ShippingWatch

Bulk carrier in cash emergency enters receivership

Indian-owned bulk carrier Mercator has entered receivership. One deficit after another made the carrier on Monday ask the authorities in Singapore for four months in receivership to negotiate with the carrier's creditors. Creditor HSH Nordbank has increased pressure on the carrier.

Photo: Star Bulk

SINGAPORE

The phone was picked up as if nothing out of the ordinary had happened when ShippingWatch on Monday tried, without success, to get a comment from Mercator's CEO. But the employees at the other end of the line are now working hard to save Indian-owned dry bulk carrier Mercator, which is listed in Singapore.

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