MC Shipping In Sale/Leaseback on Bergesen LPG Ships

The progress that CEO Tony Crawford has made at MC Shipping over the last few months has been nothing short of remarkable. In that time, the once dormant Amex-listed company has shown a burst of energy and ambition with the sale of its older container ships, the recapitalization of its balance sheet, the streamlining of its shareholding structure, the buy back of its bonds, the expansion of its banking relationship and a sharp focus on the white-hot LPG sector. Not surprisingly, MC’s share price has soared 167%, from $3 to $8, over the course of the restructuring.

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