Loans totalling close to NOK 300m ($49m) will enable the company to continue working ahead of the planned merger with Zaliv Shipyard early next year.

The loans are short-term and due to be repaid by the end of the first half of 2014.

In the meantime Bergen hopes to secure a longer term financing plan.    

Ongoing projects at the yard include a pair of offshore support vessels for delivery to Volstad Maritime in the fourth quarter of 2014 and the second quarter of 2015 respectively.

Bergen