Borr Drilling has "reached agreements in principle with its largest creditors" in the form of Singapore-based shipbuilders – PPL and Keppel, according to Dagens Næringsliv – to refinance and defer debt payments totaling USD 1.4 billion by two years.
A statement issued by the debt-ridden drilling firm on Monday reveals that the payments due in 2023 will be postponed until 2025 under the agreement.
Already a subscriber? Log in.
Read the whole article
Get 14 days free access.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Shipping bank positive on container outlook despite warnings of looming over-capacity
Berenberg expects "at least" two years' worth of good market conditions in container shipping. Its focus is on asset-based financing of smaller vessels and over-capacity is not an issue, says Berenberg's head of shipping.
Bawat targets Stockholm listing to raise fresh capital
With an IPO in Stockholm, ballast water system supplier Bawat aims to secure capital for the company’s continued development. The listing comes just six months after the company’s latest cash injection. ShippingWatch has spoken to CEO Marcus Hummer.
Investors say IMO's climate target far from enough: "There'll be a dialog on tightening up"
Unlike the oil industry, where a number of firms are blacklisted, Denmark's Pensam has not banished any shipping companies from the fold. The pension provider and investor is, however, not content with a shipping company just adhering to the IMO's target.
Line of ships outside Long Beach and Los Angeles continues
Monday, 71 container ships were waiting to dock in Long Beach and Los Angeles on the US west coast. All in all, 92 ships were waiting outside the strained ports recently hit by new coronavirus outbreaks.
Suppliers ready for giant order from Ukrainian navy after state guarantee
Amid the escalating conflict between Russia and Ukraine, maritime suppliers prepare to bid on orders going to the Ukrainian navy. The Danish state has guaranteed approximately USD 1.2bn in aid to Ukraine.
Director of Lederne Søfart 
Sales Director 
Chief Operating Officer 
Investment Analyst 
Key Account Manager, Denmark