Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Judicial management for Mercator Lines (Singapore) extended to January 2017

Judicial management for Mercator Lines (Singapore) extended to January 2017
Dry bulk shipowner Mercator Lines (Singapore) Limited (MLS) has announced that it will stay under judicial management until 29 January 2017 following an extension.

On 18 October 2016, the judicial manager of MLS filed an application to extend the judicial management order which will expire on 31 October 2016, MLS announced to the Singapore Exchange.

“The application was heard on 24 October 2016 and the extension was granted for a further 90 days from 31 October 2016 until 29 January 2017,” MLS said.

MLS was placed under judicial management on 18 January this year following a successful application by creditor HSH Nordbank to the Singapore courts.

Since then, MLS has sold off several vessels to creditors as part of efforts to reduce its debts.