ING stops backing Flinter; survival at risk

Netherlands-based ship owner and manager Flinter Group has lost its funding from locally based bank ING, which had been providing loans for nine of the 35 ships in Flinter’s fleet. ING has also frozen a number of Flinter accounts. Flinter had asked ING to sell the nine vessels, preferably privately, but the bank rejected this option.

Flinter is asking a number of creditors to allow it to delay payments on other loans.

“After eight years of fighting hard it is sad that our journey ends here,” the company stated in a web site release.

“In our opinion there are only losers: our staff on shore and on the vessels, the owners of the vessels”, adding that “despite all emotions, we will continue to act professionally and transparently to all parties”.