Clipper Group Sells 16 Ships as Part of Financial Deal

Dry bulk shipping firm Clipper Group has sold 16 vessels as part of its financial agreement, the company confirmed to World Maritime News.

The vessels sale included Clipper’s last four multipurpose carriers, a company representative said, adding that the sold bulk carriers remain in Clipper’s commercial and technical control.

The company did not unveil any further details of the transactions, nor of the refinancing agreement with its creditors.

Earlier in October, Clipper said that it would simplify its operational and administrative set-up in its bulk business.

“Going forward, we will concentrate our bulk business in three locations: Copenhagen, Houston and Hong Kong,” the company informed.

As a consequence, Clipper said it would close its offices in Stamford, Sao Paulo, Rio de Janeiro, Singapore and Beijing.

“Within the last year, Clipper has grown its operated bulk fleet from 100 to 150 vessels. We want to make communication more effective and our response time to market changes shorter. It is my belief that both the company and our clients will be able to feel the benefit of this change from day one,”¬†Peter Norborg, Group CEO, said.

World Maritime News Staff