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Dof remains dependent on forbearance from creditors

Offshore operator Dof exits the first quarter with a deficit of NOK 804 million. As a result of a weak market and substantial debt-related costs, Dof is dependent on the goodwill of its creditors until a potential restructuring of its falls into place.

Photo: PR Dof Group

Both the top line and operating profit dipped for Norwegian offshore shipping company Dof in the first quarter of 2021 compared to the first quarter of 2020.

The company remains heavily plagued by impairments, high debt-related costs, a weak market and the Covid-19 pandemic and therefore remains dependent on the goodwill of its creditors.

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