Aegean Marine Petroleum Network- a seller of marine fuels, listed on NYSE with symbol “ANW”, has had a difficult voyage lately. A happier journey may be looming, if the positive turn outlined in a recent news release works out as described.
Singapore-listed offshore vessel owner Pacific Radiance is seeking to restructure some $519m in debt.
Cash-strapped commodities and shipping group Noble is selling four kamsarmax bulkers for $95m.
Following it's merger with UASC Hapag-Lloyd’s debt has ballooned to $8.34bn and the line says it does not plan to newbuildings.
Financially strapped Malaysian offshore player Nam Cheong Ltd (NCL) has been hit with a Writ of Summons by creditor AmBank.
Marco Polo Marine has won a temporary protection order for its Indonesian shipyard as it seeks to restructure the Batam-based subsidiary.
Seadrill has announced better than expected financial results for Q4 of 2016, but the company could still face chapter 11 proceedings as it runs out of time to renegotiate its sizeable debts.
Proposed sweeping changes to Singapore’s restructuring and insolvency laws has come at a time when many companies, especially some offshore firms, are heavily burdened by debts and facing the threat of bankruptcy.