Owner of container ships files for bankruptcy

Nautilus Holdings has filed for bankruptcy protection in New York in order to secure an agreement with the company's creditors.

Bermuda-registered Nautilus Holdings, which leases container ships, has filed for bankruptcy under the US Chapter 11 rules at a Manhattan court.

According to several media, the management of Nautilus - which owns 16 ships and has a debt of around USD 800 million - says that the company has several profitable charter contracts and that the purpose of filing for bankruptcy protection is to secure a negotiation with the company's creditors.

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