Norway's Solstad Offshore has delivered a stark message about its future in its first-quarter results.
The survival of the world's biggest high-end offshore support vessel owner hinges on a debt-swap deal that will see banks take over the company, which is backed by billionaires John Fredriksen and Kjell Inge Rokke.
The Oslo-listed group said on Thursday that its equity is negative to the tune of NOK 6.37bn
