Hercules Offshore files for bankruptcy

Hercules Offshore files for bankruptcy

Hercules Offshore has filed for Chapter 11 overnight, having received support from lenders for its new restructuring plan which will see all its assets put of for sale.

The company intends to operate normally while the sale process is being conducted in order to meet commitments to customers, suppliers and employees.

Assets left unsold at the completion of the Chapter 11 process will be placed into a wind-down vehicle to ensure their continued, safe operation until sales are finalised.

Hercules emerged from its previous Chapter 11 in November 2015.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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