ShippingWatch

Why do strained offshore carriers keep surviving despite huge deficits?

Time and time again the offshore ship operators are able to settle rescue plans or postpone payments. In recent months, Solstad, Siem and Dof have all settled agreements, and there is a good reason for that, analysts explain.

Photo: Colourbox

The agreements were settled in the course of two weeks.

Major Norwegian offshore shipping company Solstad secured support for its rescue plan. Siem Offshore and Dof were able to postpone payment of their bank debts. This might sound like old news, and it is far from the first time that the supply ship operators get a helping hand from their creditors.

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