ShippingWatch

MPC chief executive is "cautiously optimistic" about 2021 after landing rescue plan

Three years after its establishment, MPC Container Ships has now landed a crucial restructuring plan in an effort to avoid a fire sale of ships and potential bankruptcy. CEO Constantin Baack explains the plan to ShippingWatch.

Photo: PR-FOTO

Constantin Baack and MPC Container Ships have made it through to the other side after weeks of work on a major crisis plan to avoid both fire sales of ships and ultimately eliminate the danger of bankruptcy.

In July, lenders and shareholders approved the company's recapitalization plan to withstand a prolonged downturn in the container market, which could last up to two years.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

"Mixed lobbying" hinders Maersk from elite status on climate efforts

Think tank InfluenceMap has mapped out how well global companies like Unilever, Ikea and Maersk are performing in terms of meeting climate requirements and whether their words match their deeds. Ambiguous communication stands in the way of Maersk reaching the top, the think tank explains to ShippingWatch.

Danske Bank makes commitment to CO2 neutral loan portfolio by 2050

By 2050 at the latest, Danske Bank's loan portfolio must be fully CO2 neutral. The bank, which provides loans to shipping as well as the oil and gas sector and also supports the Poseidon Principles, isn't ready yet to set out short-term intermediate targets on the road towards CO2 neutrality.

Further reading

Related articles

Trial banner

Latest news

See all jobs