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Farstad Shipping gets a breather throughout January 2017

Offshore carrier Farstad Shipping has secured formal agreement from affected lenders for its announced decision to stop payments on debt throughout January 2017, while the carrier is working to settle a long-term agreement with the banks.

Photo: Farstad Shipping

Struggling Norwegian offshore carrier Farstad Shipping has secured agreement from its affected lenders for a stop on amortization and payments on the carrier's financial debt until the end of January 2017.

The carrier has made a formal stand-still agreement while it works to refinance its debts, informs the carrier in a brief to the Oslo Stock Exchange on Tuesday.

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