Ultrapetrol has expressed confidence in completing a restructuring as its lenders provided some breathing space today.
The shipowner says it has reached a forbearance agreement with its secured lenders stretching until 30 April.
Ultrapetrol explains the banks have agreed not to accelerate loans or default on facilities that might result from missed interest payments on ship mortgage notes.
They have also pledged to work with the company in negotiating "a sustainable financial structure”, investors were told.
