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Offshore carrier Harvey Gulf files for Chapter 11

US offshore carrier Harvey Gulf has filed for Chapter 11 bankruptcy protection with more than USD 1 billion in debt. The carrier has previously pleaded the Trump Administration for help, writes Reuters.

Photo: PR-foto: Harvey Gulf

US-based Harvey Gulf has accumulated debt of USD 1 billion over recent years, and the offshore carrier, which has more than 50 vessels, is now filing for bankruptcy protection.

According to Reuters, the carrier filed for bankruptcy protection under Chapter 11 Wednesday this week in Houston. The offshore carrier's problems started with the plunge in oil prices back in 2014.

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