Oceanteam misses bond payment

Oceanteam misses bond payment

Norwegian offshore vessel owner Oceanteam, which has been going through a restructuring, has missed an interest payment due to bondholders yesterday.

Oceanteam says it is working to secure the necessary funds, and hopes to make the interest payment within the five-day grace period.

Last October, Oceanteam defaulted on payments due to bondholders after announcing a capital restructuring. The restructuring prompted the sale of Oceanteam’s 25% stake in pipelay vessel North Ocean 105 to McDermott earlier in the year.

 

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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