ShippingWatch

Seadrill subsidiary settles forbearance agreement after parent company's Chapter 11 petition

A subsidiary under John Fredriksen's Seadrill has secured a new forbearance agreement with some of its creditors. This agreement comes only days after its parent company filed for Chapter 11 in the US.

Photo: PR/Seadrill

A Seadrill subsidiary has managed to secure another forbearance agreement, which buys the company a little more time with its creditors.

The deal comes only a few days after the Bermuda-based parent company filed for Chapter 11 receivership in the US. The company has long been strained, and Seadrill has filed for receivership for several subsidiaries along the way before it ultimately filed for Chapter 11 for the parent company.

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

It made a splash when a Coca-Cola exec recently informed that the company 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