Norwegian offshore company struggles with major debt
Norwegian offshore shipping company Olympic Subsea has accrued major debt and now needs to negotiate with its creditors to secure future liquidity. However, the company's most recent financial statement showed black figures for both operations and bottom line.
Offshore shipping company Olympic Subsea, owned by Norwegian Stig Remøy, books a profit on both operations and the bottom line, but the company's debt is sky-high, shows the firm's third quarter interim report.
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