German shipowner Oskar Wehr has sought court protection for a fleet of 12 bulkers.
The Hamburg-based bulker and boxship owner has launched insolvency proceedings covering six capesize and half-a-dozen supramax bulkers in order to proceed with a financial restructuring to keep commercial and technical management.
A request to initiate protection proceedings for nine companies owning the 12 ships were deposited on 1 February with the district court of Niebull in Schleswig-Holstein, the company confirms.
