EnergyWatch

Viking Supply needs owner's help to save bank agreement

Viking Supply Ships must ask its shareholders for more money after the offshore carrier breached the conditions of its deal with the banks. The carrier's majority shareholder is prepared to step in.

Photo: Viking Supply Ships

Offshore carrier Viking Supply Ships has breached several conditions listed as part of its bank agreement, and the carrier is now asking investors to step in with fresh capital.

The company finds itself in trouble with its lenders, as the challenging offshore market hurts its profitability. And Viking Supply's liquidity is now lower than the banks like.

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