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MPC Container Ships seeking bigger cash shot to avert covenant breach

MPC Container Ships is now seeking a $27.5m cash injection, with $20m of that sum earmarked for its wholly owned subsidiary MPC Container Ships Invest in its capacity as bond issuer, after openly stating last month that it stands at risk of bankruptcy

The operator of 68 smaller boxships has admitted that it has been subject to liquidity pressure in the wake of the coronavirus pandemic, and is known to have been in talks with creditors for some time

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