Zeamarine is playing down reports of its financial difficulties following a major managerial shake-up earlier this week.

The struggling multipurpose (MPP) ship operator has confirmed a period of “re-establishment and strategic alignment”.

But the Bremen-based company was performing its contracts and its shareholders remained committed, it said.

The statement follows this week's surprise departure of Jan-Hendrik Tobbe as managing partner and co-founder of holding company Zeaborn.