EuropeFinance and InsuranceGas

Skaugen delays bond payment

Oslo: Oslo listed I.M Skaugen, who operates a fleet of small and medium-sized LPG carriers, says that holders of its IMSK12 bond have agreed to extend its maturity from the end of February to June next year.

The majority of the bondholders who met in Oslo approved the board’s proposal to extend its maturity, said Skaugen in a statement.

“The company has created a platform for the future and a stronger competitive position both within its traditional petrochemicals markets and the developing small-scale LNG energy markets,” said the company who is also engaged in LPG transport in China.

Morits Skaugen, ceo, said with this extension of the maturity date, the company has “ensured sufficient working capital for the company to execute on its strategy and by this to visualise and create value for all stakeholders in the company.

“We are therefore encouraged by the support from the current IMSK12 bondholders,” he continued.

The company’s fourth quarter results will be announced 25 of February.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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