Though it might not be entirely fair to compare the two tonnage providers MPC, based in Germany, and Hong Kong-listed Seaspan, the coronavirus outbreak has, in a somewhat unusual development, impacted the two companies in a completely different manner in 2020.
When MPC had to throw in the towel in May and launch negotiations with its creditors for a recapitalization, it was the pandemic, and the financial downturn it caused, that forced the company over the edge, creating a risk that it would not survive the crisis.
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