News from Ocean Yield that EMAS AMC has asked for standstill is only the beginning here. After Swiber the clock was always ticking for Ezra/EMAS. It’s very hard to see a viable scenario here for this Ezra/EMAS/EMAS Chiyoda without a significant change in the capital structure. I could write a long and detailed post on this but in reality like everyone else they are too long on ships and too short on work; a combination in cash flow terms that is obviously fatal.
If OY ever see the money for those deferred charter payments Santa has missed my house and kids out and made and extra stop in Singapore… We all know which way this is going.