Oceanteam says it is preparing for a debt-for-equity swap as it negotiates with banks on freeing up cash.
The Frankfurt-listed company presented the potential restructuring plan as part of its update on going concern issues.
Oceanteam says it is talking with its banks, including DVB, Sparebank 1 SMN, and NIBC, to resolve short-term liquidity issues from dividend cash flow from vessel owning subsidiaries.
