The Dalian-based dry bulk shipowner, together with five of its subsidiaries, would need to restructure its debt amounting to around $48m.
The move to file for bankruptcy protection came after two of the company’s ships were arrested in Singapore and China late last year over unpaid loans, Bloomberg reported. Winland was reportedly left with one vessel in operation.
In 2014, Winland registered a net loss of approximately $8m and a revenue of $12.6m.
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
Add Seatrade Maritime News to your Google News feed.
