Norwegian OSV firm Olympic Shipping has entered into a standstill agreement with its secured lenders through to September 16.
As part of the standstill agreement, the company will continue to pay interest to the finance providers and the secured lenders have agreed to postpone all amortisation and maturities during the standstill period.
“The liquidity of the company remains stable for the period to come in anticipation of an amended financing arrangement,” Olympic said in a release today.
Another name in the Norwegian OSV sector, Farstad Shipping, also announced a standstill agreement yesterday.
