MPC Container Ships gets approval from bondholders for restructuring plan

MPC Container Ships received a go-ahead from its bondholders for a refinancing of the company. The shipping company had to change its plan at the last minute when a bondholder criticized the proposed plan.

Photo: Marine Money

German shipowner MPC Container Ships has received approval to complete a restructuring plan.

A majority of the company's bondholders on Friday voted to approve the plan, which will ensure that MPC can make it through the current downturn in the container market without selling a large portion of its fleet.

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