Global Maritime Investments (GMI) has fallen victim to the battered dry cargo market and sought Chapter 11 protection in the US. GMI's shipowning, chartering and FFA operations will be wound down following the filings for five separate entities in the Southern District of New York. However, its panamax pool business established earlier this year is unaffected by the financial problems and will continue, co-founder Steve Rodley explains. Court documents show that GMI has recorded losses since 2012 and is $67.5m in the red for 2015. Its debt sits at $169m.
