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Marenave's bankers look to fleet sale to repay loans

German shipowner Marenave Schiffahrts faces having to sell its entire fleet to repay its loans.

Marcus Hand, Editor

June 15, 2016

1 Min Read
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Marenave which owns a fleet of 14 vessels – seven tankers, two containerships and four bulkers said it had received a letter of intent from the banks financing its fleet as part of “ongoing discussions”.

“According to this letter of intent, the entire Marenave-fleet shall be sold for the best possible repayment of the ship financing loans which were granted by the banks to the single ship subsidiaries and guaranteed by the company,” Marenave said.

It added that its banks would be willing to release it from any other liability pending undisclosed pre-requistes. “The release from liability is an essential requirement for the entry of a potential investor.”

Marenave said its company management board was optimistic the concept of the letter of intent could be implemented.

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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