EnergyWatch

Solstad asks creditors for help ahead of tough winter season

The upcoming winter season in the North Sea will put Solstad Offshore's liquidity under so much pressure that the carrier has launched negotiations with its creditors.

Photo: PR-foto/Solstad Farstad

Norwegian offshore carrier Solstad Offshore expects that its liquidity will be squeezed during the winter season, and the carrier will for this reason launch negotiations with its creditors, announces the company in a stock exchange press release.

"Despite signs of an improved market for offshore service vessels and being in compliance with main financial covenants as per 3rd quarter 2018, it is expected that the coming North Sea winter season will be challenging for the Company’s liquidity position," writes Solstad. 

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