GP Global subsidiary seeks debt moratorium in Singapore
Bunker supplier GP Global is undergoing a restructuring, and in that connection a Singaporean subsidiary applies for a debt-related grace period. Creditors have outstanding receivables totaling more than USD 460 million, writes Reuters.
René Kofod-Olsen is V.Group's fourth CEO in just three years. The many changes have been a distraction and have led to several wrong decisions, he tells ShippingWatch. The mandate from the owner is to future-proof the company, and for this he is willing to make both selections and rejections.
Only 46 percent of Maersk's vessels arrive on time, which is a service level that Maersk, according to CCO Vincent Clerc, is "dismayed by", even if the industry reliability average is only around one in three ships.