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Mercator Lines (Singapore) placed under judicial managementMercator Lines (Singapore) placed under judicial management

Following the announcement that Mercator plans to exit the dry bulk sector, its Singapore-listed subsidiary Mercator Lines (Singapore) (MLS) has been placed under judicial management.

Marcus Hand, Editor

January 19, 2016

1 Min Read
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Creditor HSH Nordbank had applied to the Singapore courts have the struggling dry bulk shipowner placed under judicial management last year. Hearings were initially postponed while MLS sought to restructure. Yit Chee Wah has been appointed as the judicial manager of the company.

“The judicial manager intends to evaluate all of the available options in order to preserve the value of the company’s assets for the benefit of its creditors,” MLS said in a statement to the Singapore Exchange.

Meanwhile Harish Kumar Mittal has resigned as chairman and a director of the company.

About the Author

Marcus Hand

Editor

Marcus Hand is the editor of Seatrade Maritime News and a dedicated maritime journalist with over two decades of experience covering the shipping industry in Asia.

Marcus is also an experienced industry commentator and has chaired many conferences and round tables. Before joining Seatrade at the beginning of 2010, Marcus worked for the shipping industry journal Lloyd's List for a decade and before that the Singapore Business Times covering shipping and aviation.

In November 2022, Marcus was announced as a member of the Board of Advisors to the Singapore Journal of Maritime Talent and Technology (SJMTT) to help bring together thought leadership around the key areas of talent and technology.

Marcus is the founder of the Seatrade Maritime Podcast that delivers commentary, opinions and conversations on shipping's most important topics.

Conferences & Webinars

Marcus Hand regularly moderates at international maritime events. Below you’ll find a list of selected past conferences and webinars.

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