Middle East shipowner Polarcus has stopped interest payments on its debt as it seeks to restructure finances.
The seismic survey vessel company said it had started talks with banks, lease providers and certain bondholders to find a “long-term term solution” to its financial position.
“While Polarcus is confident that new agreements will be reached with the relevant stakeholders, there can be no assurance or guarantee that such final agreements will be reached or consummated,” it added.
It
