Mowinckels Rederi restructuring DNB loans

Norwegian shipowner and operator J Ludwig Mowinckels Rederi are in talks for loan terms for two panamax dry bulk carriers with DNB Bank. J Ludwig Mowinckels Rederi reduced installments due to the poor markets. Panamax dry bulk carriers 2008 built 75K DWT M/V Goya and M/V Ogna must be at least 120% of outstanding debt, which at the end of 2015 stood at $24.9 million. Panamax dry bulk carriers 2008 built 75K DWT M/V Goya and M/V Ogna were bought as resales for $45 million each from John Fredriksen’s Golden Ocean Group and fixed for seven years by Torm at $24,000 per day.