Marco Polo Seatrade Bv News

Netherlands-based Marco Polo Seatrade BV has been granted interim relief by a New York court which will allow it to continue to operate the business in the ordinary course under Chapter 11 protection. The court granted Marco Polo, a company managed by Seaarland Shipping Management, the right to continue to operate and pay all operating expenses, the right to continue to pay employees and crew, the right to continue all cash management procedures, and the right to continue to maintain all insurance - all in the ordinary course of business. The management team continues to operate the business and the company will continue to honor all of its charter obligations during the pendency of the court protection.