Offshore shipowners’ negotiations with bondholders — already time consuming and difficult in the first round of restructurings — are getting increasingly tougher as these investors are asked to concede ground again, say sources on both sides of the table.
In Norway, given that offshore restructurings have been typified by “amend and extend” strategies on debt terms, financial runways in general have often been extended by about two years, meaning a second round of negotiations was already expected almost as soon as the first round started.
