Siem Offshore still waits for clarification from its Brazilian creditors

Siem Offshore is in the midst of a refinancing, which requires backing from many lenders. But it has proven difficult for the shipping company to get its Brazilian creditors on board, writes Finansavisen.

Photo: PR / Siem

Norwegian offshore shipping company Siem Offshore, which is led by Kristian Siem, is in a dire financial situation with debt totaling around NOK 8 billion (USD 930.7 million), and the company is now trying to settle a deal with its creditors, though it is having difficulties with its creditors in Brazil, reports Finansavisen.

Earlier this year, Siem Offshore reached an agreement with its Norwegian and European creditors to postpone payments until April 30, 2021.

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