Noble Group’s shipping operations are expected to continue uninterrupted despite the company seeking Chapter 15 protection in the US while it pushes through a deal to restructure debt of $3.5bn.
The Singapore-listed commodities trader filed legal papers on Monday with the Southern District of New York aimed at providing a shield for its assets during the reorganisation.
Sources closely connected to Noble Chartering, the group’s Singapore-based shipping arm, told TradeWinds this week that the Chapter 15 filing has not affected day-to-day operations and it continues to fix ships and pay daily hire.
