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Media: Japan's Daiichi close to sealing rescue plan

Anonymous sources inform that Japanese dry bulk carrier Daiichi Chuo Kisen Kaisha is close to reaching an agreement with local industry parties for a rescue plan that will bring the almost-dethroned carrier out of a slow restructuring process and into fresh capital.

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A circle of Japanese yards and shipowners are looking to join forces in an attempt to rescue dry bulk carrier Daiichi Chuo Kisen Kaisha, which after four months of trying and failing to restructure the company has now been forced to postpone the restructuring process by several months, reports Tradewinds.

The Tokyo city court has extended the carrier's deadline for a restructuring until March, and unnamed sources inform that Daiichi is close to sealing a deal with unnamed shipowners and shipyards which could bring the carrier back on track. The company has in the past rejected investors, allegedly because the offers were too low, while investors, on the other hand, have criticized the carrier's management team's plans to get the company out of trouble.

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