World Wide Supply unable to make interest payment

World Wide Supply unable to make interest payment

Norway’s embattled World Wide Supply admitted yesterday it is unlikely to be able to make an interest in a scheduled interest payment today. The OSV player has bond debts of $146.7m, and has previously revealed that is in negotiations with its lenders.

Four out the six-strong World Wide Supply fleet are idled at the moment. The two that are still busy are working for Petrobras.

Norway’s OSV community has been hit especially hard by the fall in global oil prices.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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