2615% of the ocean's shipping jumped out of bankruptcy

According to Yuncheng airlines reported that the world's largest marine shipping owner tide (Tidewater) in 2017 rose 2615%, success out of bankruptcy. In May 12th, the shipping announced that it has signed a restructuring support agreement with the lender. The company can obtain senior bondholders and revolving credit lending institutions support. The bankruptcy filing in Delaware before May 17th and to implement the restructuring plan. The new equity shareholders of ordinary shares will retain 5%. At this time the shipping plan listed on the New York stock exchange, through the restructuring process to maintain its market. The sea tide fell 23.68%, to $0.67. However, in July 31st, the shipping announced that after the completion of the financial restructuring of the elimination of about $1 billion 600 million in debt has been out of bankruptcy protection on 31.7 the shipping charge of 93 cents, the price of $25.25. Re start in August 2nd on the NYSE to resume trading through bankruptcy. The sea, eliminating the $1 billion 600 million of debt, and a decrease of $73 million in operating costs. "Resurrection" is ready to further expansion of the fleet. Previously, the Jeffrey maritime chief executive Platt said that after the completion of the bankruptcy reorganization procedure, Tidewater will consider the possible acquisition of.Tidewater hopes to take advantage of the present market opportunities, looking forward to the trend of merging further, fleet expansion. Clarkson data show that the maritime fleet size of more than 350 ships, 1 million 560 thousand tons of total correction, average 17 years of age.