The offshore company has a 25% ownership in the 3,800-dwt Reef Despina and Reef Larissa (both built 2011), which are owned in majority by Neptune Offshore.
TradeWinds understands that the value of Reef’s stakes could be as much as $60m but it is still unclear what price the company will be able to achieve in a distressed offshore market.
Neptune hired out the vessels on long-term agreements to Reef in 2012.
According