Subscribe to RSS feedGolden Ocean nearly broke
by
Obsidian
—
last modified
Mar 05, 2009 12:00 AM
John Fredriksen's Golden Ocean is racing against time to stave off the threat of insolvency following the collapse in bulk carrier values and counterparty failure in charters.
Golden Ocean warned that it would run out of cash to meet its obligations within weeks and was in urgent need of a financial restructuring package to be in place by the end of next month.
Chief financial officer...
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