Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
“Due to stories today in the Danish media, Torm wants to reconfirm that negotiations are still ongoing with relevant parties with the aim of reaching a long-term financial solution,” the company said in a statement.
“Torm will issue a statement once a deal has been concluded,” it said.
The company has long suffered from weak shipping rates and a towering debt, which currently stands at around $1.9 billion. It has reached an agreement in principle with its banks for a deal that will freeze debt payments and inject $100 million of fresh capital, but so far the parties haven’t been able to finalize the talks.
– Flemming Emil Hansen, Dow Jones Newswires
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 105,953 members that receive our newsletter.
Have a news tip? Let us know.
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign UpMaritime and offshore news trusted by our 105,953 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up