Marenave Could Sell Entire Fleet to Repay Loans

Image Courtesy: Marenave Schiffahrts

Hamburg-based shipping trust Marenave Schiffahrts said that it received a letter of intent from its lenders stating that its entire fleet should be sold in an effort to repay the company’s ship financing loans.

The letter of intent, which was sent in the course of the ongoing discussions with the banks financing the Marenave-fleet, remains subject to approval by the banks’ respective bodies.

Furthermore, the banks said that they are willing to release the company from any liability, under certain prerequisites.

“The release from liability is an essential requirement for the entry of a potential investor,” Marenave said, adding that the company’s Management Board will now examine the proposal.

In February 2016, Marenave Schiffahrts reached an agreement with the bank consortium financing eight of its product tanker and container shipping companies to extend its restructured debt.

The initial agreement, reached in April 2013, was supposed to cover the company’s businesses until the end of 2015, but has been extended to June 30, 2016.

With this agreement, the repayment obligations of the shipping companies for the first half of 2016 were reduced by some USD 10.3 million.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

DSM17

Donsö Shipping Meet 2017 is an all inclusive exhibition. Meals, electricity, meeting schedule and banquette dinner is included…

read more >

TOC Europe

TOC (The Terminal Operations Conference) has long been considered best in class by container terminal operators and their suppliers…

read more >

Marine Philippines 2017

The 4th edition of PHILIPPINES MARINE 2017, SHIPBUILD PHILIPPINES 2017 and OFFSHORE PHILIPPINES 2017 is the only specialized Shipbuilding…

read more >

Bunkering Week 2017

IBC’s biennial Bunkering Week is back with its successful series of 3 co-located events: 8th Bunkering in Asia, 4th LNG Bunkering and EMTECH: Ship Emissions Technology Conference.

With a proven track record of bringing together top decision makers from various industry sectors, this remains the go to event for ship owners, fuel suppliers, traders and technology solution providers. Get in-depth and detailed market insights from experts who are taking the decisions, assess peer strategies and give shape to your own in this unrivalled gathering of shipping and marine fuel industry leaders.

Key Highlights for 2017:

* 3 Co-located Conferences

* 12+ Hours of Networking Time

* In-depth Review of Shipping Markets by Segment

* Ship Owner Positions on Emissions Compliance Scenarios

* Pricing Differentials and Availability across Different Fuels

* Technology and Analytics in Fuel Management and Emissions MRV

More info

read more >