Siem Offshore granted payment deferral by lenders

Siem Offshore granted payment deferral by lenders

Norwegian OSV operator Siem Offshore has entered into an agreement with the group’s secured lenders to provide time to secure a long-term financing solution for the company

The company has been in discussions with its banks to alleviate its financial pressure as the extreme fluctuations in the financial markets recently have resulted in a further deterioration in the company’s liquidity situation.

The terms of the agreement includes deferral and suspension of principal and interest and a waiver of financial covenants until May 15.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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