Taiwanese shipping company Today Makes Tomorrow (TMT) has requested its creditor bank to extend loan repayment periods for several loan deals with worth a combined US$800m. In exchange, the bank has asked TMT to provide more assets as collateral and the loan rate will be increased.
TMT’s unpaid loans include six 7-year-loans, ranging from US$84m to US$90m. TMT has invested the loan mainly on newbuildings including VLOCs, VLCCs and several roro ships in recent years.
Financially troubled TMT, run by Nobu Su, has seen a number of court cases brought against it across the world in recent months.
 

-- Source from Sino Ship News