No deals with carriers, say Houthis – Red Sea safe for non Israel-affiliated ships
Yemen’s Houthi militia have told The Loadstar they have not been giving assurances to individual ...
EXPD: TWO BUCKS UPCHRW: EVERY LITTLE HELPS AHEAD OF EARNINGSHON: STRATEGIC SOLUTIONSXPO: KEEP ON TRUCKINGDHL: ANTITRUSTDSV: TRIMMINGDSV: OHHHHHWMT: MASSIVE DOWNSIDE UNDER BEAR CASEWMT: RISKTSLA: 'FEUD RISK'FDX: KEEP THE FAITH DHL: PORTFOLIO REJIG TALK IS JUST THAT
EXPD: TWO BUCKS UPCHRW: EVERY LITTLE HELPS AHEAD OF EARNINGSHON: STRATEGIC SOLUTIONSXPO: KEEP ON TRUCKINGDHL: ANTITRUSTDSV: TRIMMINGDSV: OHHHHHWMT: MASSIVE DOWNSIDE UNDER BEAR CASEWMT: RISKTSLA: 'FEUD RISK'FDX: KEEP THE FAITH DHL: PORTFOLIO REJIG TALK IS JUST THAT
There has been no official release to the international press by Zim, or its parent company Israel Corporation, but it appears from this article that negotiation with creditors – banks, shipyards and bondholders – have been completed, with the result that some $1.5bn in debts is to be collectively wiped off. Ouch. Israel Corporation, owned by the Ofer family, will have to inject another $200m in the struggling carrier and see its stake reduced to 33%. The one winner is the state of Israel, which sold its stake in 2004 in a then heavily criticised move. It now appears to have been remarkably prescient.
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Comment on this article
Michael Kusuplos
January 20, 2014 at 4:56 pmIsn’t funny how 10 years can change the perspective of so many individuals!