Otto Gregard Tidemand controlled Norwegian shipowner and operator Z Bulk files for bankruptcy in Norway. Eastern Bulk Carriers name changed in 2016 as Z Bulk. Z Bulk is now in the hands of administrators. Z Bulk’s was in partnership with Canpotex of Canada. Z Bulk has been working with Canadian giant Canpotex for 20 years. Eastern Bulk Holdings company Eastern Bulk has supplied Z Bulk with considerable amounts of capital in a search of a solution but Z Bulk has assets and debts of less than $1 million filed for bankruptcy.