Marenave in “Promising” Talks with Financing Banks

German-based shipping trust Marenave Schiffahrts said that it has conducted “promising negotiations” with financing banks in order to avoid insolvency.

The move comes less than a month after the company received notice from two banks financing the Marenave-fleet stating that Marenave’s restructuring concept, which has been negotiated so far, will not be supported.

“Already at the beginning of this week some of the financing banks notified the company that they will support a restructuring concept outside insolvency,” Marenave informed.

Additionally, the company said that it received further statements by the respective banks, according to which they will for a limited period of time seriously demand payment from the single ship companies of the amounts due under the respective ship financing loans only to the extent the respective single ship companies actually have the financial capacity to make such payments in light of their revenue situation and the liquidity accumulated until the relevant due dates.

“At the same time Marenave shall not be held liable under the guarantees given for the respective ship financing loans,” the company added.

Subsequently, the company has concluded that the positive going concern forecast is restored for the company and that all single ship companies are solvent.

Marenave expects that “a paper with key issues for a restructuring agreement” between the company and some of the financing banks would be concluded until December 9, 2016.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Nov 2019 >>
MTWTFSS
28 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

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >