The rebuilding of German owner Marenave's fleet is in doubt after investment fund Deutsche Balaton took control of the company.
Balaton yesterday increased its stake to 51.69% after buying German shipping company Ernst Russ' stake.
"Deutsche Balaton intends to render a mandatory tender offer to the company’s other shareholders," Marenave said.
"As a result, the company may as of today no longer readily assume that a strategy directed to re-implement its maritime corporate purpose will be implemented."
