Offshore vessel contractor DOF is battling to secure a refinancing solution amid mounting debts and a further loss in the last quarter as a market recovery stalls, despite winning fresh charters for a pair of units.
The Oslo-listed group, which is saddled with interest-bearing debt of Nkr18.8 billion ($2 billion), warned in its quarterly report that a continued weak market will “increase the risk of lower utilisation and earnings” of its vessels and “represents an increased liquidity risk for the group”.
