ShippingWatch

Dof extends forbearance with creditors in limbo ahead of rescue plan

Norwegian offshore ship operator Dof will not have to pay installments and interest on most of its debt until the end of April. The company's finances are severely strained, and it is working to settle a long-term restructuring.

Photo: PR/Dof

Offshore ship operator Dof and subsidiary Dof Subsea have extended a deal with creditors which means that the companies will not have to pay installments or interests on most of their debt until April 30, writes Dof in an update.

The deal was reached with a majority of the secured creditors in the two companies. However, Dof Subsea must still make payments on a credit facility of NOK 100 million (USD 11.6 million) which it signed with a series of creditors in March last year.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk estimated to have war chest in the range of USD 30 billion

The funds will not be used for more vessels, but what then is Maersk planning to spend the estimated USD 30 billion in its war chest on following the announcement that the full-year result in 2021 will be significantly higher than what was expected just a couple of months ago?

BP's sales grow, earnings drop

The oil giant wasn't able to keep pace with 2021's first quarter, though the company remains far ahead of its USD 17.5 billion deficit from the second quarter of 2020.

Further reading

Related articles

Trial banner

Latest news

See all jobs