Excel Maritime Carriers may need to take additional steps to shore up its finances despite recent amendments that helped alleviate pressure tied to a $1.4bn credit facility, according to an equity analyst at Wells Fargo Securities.

Michael Webber.
Michael Webber views the deal to push back up to $100m in instalment payments to a syndicate led by Nordea as a positive development but believes the New York-quoted bulker owner will likely need to seek more relief by the end of 2013.

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