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You are here: Home → Archive → 2009 → July → Weekly Edition 30th of July 2009 → Box giants in stand-off with bank over call for more money

Box giants in stand-off with bank over call for more money

by Janet Porter and Keith Wallis — last modified Jul 30, 2009 05:16 PM

TWO of Europe’s largest containership operators are heading for a showdown with Korea Eximbank over demands for extra money to cover the cost of newbuildings that were already financed and are ready to be delivered.

The position of the Korean bank has infuriated owners, with a stand-off between the two sides that could result in political intervention.
Mediterranean Shipping Co and CMA CGM are said to be the companies most immediately caught up in...

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