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Offshore Support Journal

Dutch offshore outfit reaches in-principle restructuring agreement

Mon 16 Apr 2018 by David Foxwell

Dutch offshore outfit reaches in-principle restructuring agreement
Vroon said it is close to reaching agreement with its lenders

Dutch shipping company Vroon, of which Vroon Offshore is a key part, has reached an in-principle agreement with all its lenders regarding the terms of its financial restructuring.

The agreement, which is subject only to final documentation and credit committee confirmation, is an important step forward towards the finalisation of Vroon’s financial restructuring.

The agreement is an important step in a process initiated in late 2016 following what the company described as “continued challenges in shipping markets.”

“Vroon is confident that the envisaged restructuring will provide a generous runway to implement its strategic plan,” the company said in a statement.

“The company is committed to continuing to take measures to strengthen its financial condition during these turbulent times. Vroon’s focus remains the provision of safe, reliable and high-quality services to its clients.”

Vroon operates and manages a diverse fleet of approximately 200 vessels.

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