Norwegian offshore vessel owner DOF Group has bemoaned its inability to get debt restructuring talks over the line despite years of trying.

The Oslo-listed company needs to seal a $2bn long-term refinancing to ensure its viability after years of depressed rates in its markets.

DOF said in its annual report that discussions with lenders were ongoing throughout 2021 and continue now.

“It has been challenging to operate in an environment with short-term standstill periods,” the company admitted.

Talks have been “constructive, but at the date of this report a final refinancing solution is not yet in place which we strongly regret,” the shipowner said.