Marenave’s Final Vessels Sold Off

Posted On Sep 28 2020 by

first_imgThe remainder of the fleet once owned by German shipping trust Marenave Schiffahrts has been sold through a bank-driven process, data provided by the company shows.The data lists a mix of six tankers, two containerships, four bulk carriers and a car carrier as sold. The majority of the fleet was disposed of in March, May and June, respectively, while the final two ships were sold in the second half of September, according to data provided by VesselsValue.The two ships in question, the LR1 tankers Mare Pacific and Mare Atlantic, reached a price tag of USD 5.9 million and USD 5.4 million. VesselsValue data also shows that the 68,500 dwt tankers, built in 2001, were purchased by Greece-based Stalwart Management.With the final vessels disposed, the company has fulfilled the conditions for its restructuring, as earlier set by Marenave’s financing banks.However, the company’s existence was once again put into question in mid-September as the proposed capital reduction, another condition for implementing the restructuring concept, was rejected by key shareholders.At the annual general meeting held on September 15, members postponed capital reduction. Consequently, the investment agreement involving CPO Investments GmbH & Co. KG (Offen Group) and DEVK Allgemeine Versicherungs-Aktiengesellschaft fell through.The shipping trust started its negotiations with the financing banks in late 2016 in order to avoid insolvency after it received notice from the two banks financing the Marenave-fleet stating that Marenave’s restructuring concept will not be supported.World Maritime News Stafflast_img read more


Wenger lauds Nketiah after Carabao Cup double

Posted On Nov 16 2019 by

first_imgArsenal Wenger lauds Nketiah contribution after Carabao Cup brace Guy Atkinson Last updated 2 years ago 06:40 10/25/17 FacebookTwitterRedditcopy Comments(1) Eddie Nketiah - cropped Getty Images Arsenal League Cup Arsenal v Norwich City Norwich City The Gunners were facing elimination before the teenager stepped up with a memorable double, and his manager was delighted by his impact Arsene Wenger hailed the contribution of 18-year-old Eddie Nketiah, who came off the bench to score twice against Norwich City and book Arsenal’s spot in the Carabao Cup quarter-finals.Nketiah was introduced in the 85th minute at the Emirates Stadium with his side trailing to Josh Murphy’s cool first-half finish.Arsenal 5/6 to beat Swans to nil Article continues below Editors’ Picks Lyon treble & England heartbreak: The full story behind Lucy Bronze’s dramatic 2019 Liverpool v Man City is now the league’s biggest rivalry and the bitterness is growing Megan Rapinoe: Born & brilliant in the U.S.A. A Liverpool legend in the making: Behind Virgil van Dijk’s remarkable rise to world’s best player The youngster made an immediate impact, equalising with almost his first touch to send the game into extra time.He then ensured the headlines would be his in the 96th minute with a superb header from Mohamed Elneny’s corner to secure his side’s place in the next round.”He showed great anticipation in the box to score and that’s a quality that you cannot teach at that age,” Wenger said.”I like the second goal that he scored because he’s not tall and he got very high – it shows that he’s a guy who wants it.” 84: AFC 0-1 NCFC 85: @EddieNketiah9 comes on to chants of “Who?”FT: AFC 2-1 NCFCEddie who?  pic.twitter.com/4vkxgrx5Fy— Arsenal FC (@Arsenal) October 24, 2017Wenger made 11 changes from the side that beat Everton 5-2 at the weekend and says his decision not to name any senior players on the bench was a deliberate ploy so that he would be forced to blood some of his youngsters.”This is the competition every year that we decide to educate young players who have good potential,” he added.”It is good to only have young players on the bench because if you have experienced players you go for them – having young strikers on the bench is great for us.”last_img read more