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.