B+H Files for Bankruptcy Reorganization, but Service Won't Be Affected
B+H Ocean Carriers said it, several of its subsidiaries and related entities filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The company said it intends…
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to restructure its balance sheet and emerge as a recapitalized shipowning business, continuing to specialize in the transportation of refined petroleum products and dry bulk commodities. It said there would be no interruption of service. B+H owns a fleet of four product-suitable Panamax combination carriers capable of transporting both wet and dry bulk cargoes, along with a 50% interest in an additional combination carrier.