Havila Shipping revealed restructuring plans as it prepares for “major financial challenges” over the next three years.
The Oslo-listed offshore shipping company has struck a deal with its lenders that will cut amortisation, extend its debt repayment runway, rewrite its loan covenants and see new equity issued.
Njal Saevik, chief executive of Havila, told TradeWinds: “These are challenging times for the industry and we think it is going to be like that for another year or two.
