Coronavirus and debt increase uncertainty for Siem Offshore

Coronavirus and continued high debt creates uncertainty for Siem Offshore, which finds itself in an increasingly strained offshore market. But the shipping company trusts in its creditors and believes in improvements. (updated)

Photo: PR / Siem Offshore

Norway's Siem Offshore now casts doubts on its status as going concern.

This is due to a combination of an already hard-strained industry, uncertainty surrounding the shipping company's bank agreements and, not least, the coronavirus outbreak, which challenges the market and kindles uncertainty, says Siem Offshore in its annual report.

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