The filing comes on the eve of a scheduled $14m principal payment due tomorrow as the company seek to retain cash.

Windsor has struggled as VLCCs originally on charter to oil major BP have one by one come back onto a depressed spot market, with the last of those charters expiring this month.

Windsor, a subsidiary of John Fredriksen's Independent Tankers Corp (ITC), was created as a special-purpose vehicle to issue bonds supporting construction of the four VLCCs originally placed under charter to BP in 2000.

While