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Monthly Archives: April 2016

Why do foreign shipping companies look for a way out in chapter 11?

Why do foreign shipping companies look for a way out in chapter 11?

In the last 5 years there has been a significant number of shipping companies filing for bankruptcy under the chapter 11 approach in the United States. It all started in 2011 and there are names of big players such as General Maritime, Omega Navigation, Marco Polo, TBS International, B&H, and OSG.  Experts blame the collapse… Read More…

The Genco Story: from filing for bankruptcy to a successful merger

The Genco Story: from filing for bankruptcy to a successful merger

The shipping industry has been navigating very rough waters for many years now and it has suffered from an overload of vessels after buying too many before the 2008 global recession, which then led to the sharp decrease in rates leaving companies like Genco with too much debt. A number of other shipping companies, including… Read More…