Farstad Shipping gets breathing room from creditors

The struggling Norwegian offshore carrier Farstad Shipping has been granted one more month to reach an agreement with creditors concerning repayment of debt due this past summer.

BY OLE ANDERSEN

Supply carrier Farstad Shipping has had an agreement with its creditors extended to November 10th. The agreement means that all repayments of the group's financial debt to current creditors, which matured on July 1st, have been postponed in the expectation that the company can reach an agreement.

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Farstad Shipping gets breathing room from creditors

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Shell axes 255 jobs in Norway

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Front page now

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Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

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Analysis: Capesizes have become too expensive despite strong market

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