Siem Offshore has moved to quash any fears over financing for its extensive newbuilding programme by applying for guarantees from a compatriot body for some of the units.
The Norwegian owner also said it will look for guarantees for more of its newbuildings slated for delivery in the next two years.
Siem said it has applied to Norwegian Guarantee Institute for Export Credits (GIEK) for guarantees on three of a dozen 100%-owned newbuildings at a domestic yard.
