Oslo-listed DOF Group has turned in a first-quarter loss as it continues in talks with lenders and bondholders over a long-term restructuring of its debt.

The net loss in tough first quarter offshore vessel markets was NOK 801m ($96m), down from a loss of NOK 4.1bn in 2020.

Revenue dropped to NOK 1.5bn from NOK 2.1bn.

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The company is trying to find a long-term solution for its finances, with debt standing at around NOK 18bn ($2.2bn).