The future of Farstad Shipping was once more thrown into uncertainty after creditors rejected a refinancing and takeover by tycoon Kristian Siem.
The Norwegian offshore shipowner said the term sheet agreed last year with Siem Oil Invest had been terminated after the two sides failed to win over all stakeholders.
"Farstad will pursue other alternatives for its financial restructuring in continued cooperation with its key financial creditors," it added.
The
