All of Torm's lenders have agreed to extend the carrier's current working capital facility by another six months, so that the facility runs until March 31st 2015, says Torm in a brief to the stock exchange.
"The 100 percent consent level representing more than 40 lenders is a strong sign of the support to Torm and the efforts to recapitalize the company. The aim is to reach a long-term solution for the capital structure within the timeframe of this extension," says CEO Jacob Meldgaard in the statement.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Hafnia could face difficulties financing major acquisition from biggest rival
Hafnia is in the process of acquiring 12 vessels from its largest rival, Scorpio Tankers, in a cash transaction estimated at USD 360m. It could prove difficult for Hafnia to finance such a large deal with the current stock prices, analyst tells ShippingWatch.
"Fossil" ships to be part of Norden's fleet for many years to come
Shipping line Norden wants all ships to be able to sail on green fuels in 2030. Until then, the company is not through with buying fossil-fueled ships, head of climate solutions tells ShippingWatch.
Several factors explain the plummeting dry bulk rates
Dry bulk rates have taken an unusual dive at the beginning of 2022. Most recently, the Baltic Dry Index dipped by 4 percent Friday. Several factors have triggered a ”panic in the market,” an analyst explains to ShippingWatch.
One of China's busiest ports jammed by Covid
Bottlenecks in the US and Europe greatly impact Chinese port Shenzhen as upcoming holidays are likely to further slow shipment of goods out of China.
Prosafe reports best fleet utilization since 2015
Norwegian hotel rig provider Prosafe, which completed a large-scale restructuring in December, comes out of 2021 with the highest fleet utilization in six years.
Chief Operating Officer 
Safety & Operations Manager 
Sales Director 
Fleet Manager 
Key Account Manager, Denmark 
Director of Lederne Søfart