Oceanteam and Bourbon defer repayment on joint venture subsea vessel pair

Oceanteam and Bourbon defer repayment on joint venture subsea vessel pair

Oceanteam and Bourbon, the joint owners of CSVs Bourbon Oceanteam 101 and CSV Southern Ocean, have deferred the January instalments on the two vessels to increase cashflow in order to facilitate maintenance activities.

The deferment is allowed under the loan facility agreements attached to the vessels, at no additional cost. The loan instalment will be deferred until the end of the facility in 2022.

The companies said they will use the funds made available by the deferment to perform the operational maintenance program on both vessels later this year, if and when the vessels become available. They are currently on hire in Angola and India respectively.

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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