Goldenport Holdings announced on Friday it suspended debt payments due to the “particularly challenging” economics of the dry-bulk market and “sharply decreasing” containership freight rates.
“Against this background, cash flow generated from operations is only sufficient to cover the operating expenses of the fleet,” Goldenport said in a statement. “As a result, the company has suspended the servicing of its debt and is in ongoing negotiations with its lenders to restructure its loan facilities.”
Goldenport’s
