OSV fleet owner Solstad Offshore ASA has announced it will speak to lenders with a view to improving the company’s liquidity.
In a statement on its website the company said “Despite signs of an improved market for offshore service vessels and being in compliance with main financial covenants as per Q3 2018, it is expected that the coming North Sea winter season will be challenging for the company’s liquidity position.”
The decision was taken to open up negotiations with lenders and other stakeholders with a view to improving the company’s liquidity and “to create a robust long-term platform.”
The release noted that the company has already appointed financial and legal advisors.
Solstad Offshore ASA is the latest name of the entity formerly known as Solstad Farstad ASA, the name the company took on following the merger of Solstad Offshore, Farstad Shipping and Deep Sea Supply in June 2017.
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