It says they are asking shipowners for charter price cuts, similar to what was received by CSAV. This, in addition to needing more cash from their shareholders.
I find this a bit disturbing, because I thought they negotiated with the shipowners last month, with the shipowners investing money in the company in exchange for equity.
At the time, I thought it was a bad move not to get lower charter rates, but maybe this was the plan all along.
I doubt it. I think things are worse than they thought.
This comment really caught my eye.
Without financial aid from its shareholders, the line would face bankruptcy within weeks, industry insiders said.
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