Photo credit: Ecovix
SAO PAULO, Dec 16 (Reuters) – Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais ($2.4 billion) and a plunge in shipbuilding.
In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection proceedings, which will take place in a court based in the southern Brazilian state of Rio Grande do Sul. Cash at the shipbuilder is being depleted at this point, the statement said. ($1 = 3.3845 reais) (Reporting by Guillermo Parra-Bernal; Editing by Jonathan Oatis)
(c) Copyright Thomson Reuters 2016.
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,934 members that receive our newsletter.
Have a news tip? Let us know.
CAIRO, March 2 (Reuters) – The Houthi Transport Ministry in Yemen said on Saturday there had been a “glitch” in undersea communication cables in the Red Sea as a result of actions...
by Captain John Konrad (gCaptain) In the current American labor landscape, the stark contrast between the assertive strides of transportation unions and the maritime sector’s unique labor challenges is striking....
![A screengrab of a map showing an earthquake Mindanao, Philippines on Dec 2, 2023. (Image: US Geological Survey [USGS])](https://gcaptain.com/wp-content/uploads/2023/12/Screenshot-2023-12-02-at-10.45.17-AM-copy.png.webp)
By Mikhail Flores MANILA, Dec 2 (Reuters) – Evacuations were under way in the Philippines after a quake of at least magnitude 7.5 struck the southern region of Mindanao on Saturday night,...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 105,934 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
