Box Ships Inc (TEUFF)

[ivfk]

This seems to be happening all over the industry. Banks in the Shipping industry are holding a combined 400 Billion dollars of debt related to the container and bulk ships that are now only worth a fraction of their original mortgages. A read an article a few months ago that the European central bank was looking into the issue and since then I have notice an increase of debt forgiveness. Diana Container ship (DCIX) is another example that just scrapped several ships at similar prices and obtained forgiveness on their outstanding debt.