Prosafe reaches deal with oil company after canceled contract

Hotel rig operator Prosafe, which is still in talks with creditors for a rescue plan, has now entered a compensation agreement with an oil company after a canceled contract.

Photo: PR / Prosafe

Prosafe, which leases accommodation rigs out to the oil sector, has reached an agreement with British oil company Enquest for "adequate compensation" after the oil company last year canceled a contract for rig Safe Zephyrus in the North Sea, reports Finansavisen.

Prosafe finds itself in protracted negotiations with its creditors to find a solution to the company's debt woes, but it remains uncertain how and when a final solution will be settled.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

For Coca-Cola, chartering vessels is by no means a foreign concept

Coca-Cola made a splash when one of the company's execs recently informed that it had chartered three dry bulk vessels as a result of the strained supply chains. It's a frequently used method, the company tells ShippingWatch. Nike expects shortages of products in coming quarters.

Further reading

Related articles

Trial banner

Latest news

See all jobs