J Lauritzen has taken strides to bolster its balance sheet with the aid of the Lauritzen Foundation.
A sale of the shipowner’s stake in Axis Offshore alongside other non-core assets and a $19m capital injection has secured a $125m cash boost.
Bent Ostergaard, the J Lauritzen chairman, told TradeWinds in December the foundation would offer support if necessary at a time when the weak market is causing heavy cash burn for shipowners.
