the Case is updated.
Ole T. Bjørneviks shipowner Boa Offshore AS it continues to lose money. The second quarter of 2016 ended the 315 million in the minus. On Tuesday afternoon the company announced results for the third quarter, which shows an additional loss of nok 87 million before tax. The revenues of 169 million in the last three months, 365 million less than in the same period of last year.
Read also: Bjørneviks company lost 315 million. in three months
Large likviditersproblem
the Crisis in the oljeservicebransjen now affect this Trondheim-based shipping company further negativy. The company says in a stock exchange announcement on Tuesday that the situation is “significantly worse than expected just a few months ago”. Ole T. Bjørnevik will not comment on the case itself, but refers Tuesday afternoon to the managing director of the company.
Trondheimsreder Ole T. Bjørnevik owner Boa Offshore through Taubåtkompaniet AS. Photo: Morten Antonsen
– the Situation in the market collect us and we must initiate a restruktureringsprosess, says managing director Helge Kvalvik in Boa Offshore.
According to the børsmeldingen, the company may run out of money in the course of the next quarter or first quarter of 2017.
– there Is danger of bankruptcy?
We are sitting with a plan we believe is best for our financial creditors and assumes that we reach the goal with it. I have a thousand tasks a day. To spend time on what happens if we do not reach the goal with this plan is wasted energy, ” says Kvalvik.
According to the børsmeldingen is the company’s likviditetsproblem (ability to pay) serious. The company will operate as normal, but during the process they will come to break the payables for the instalments and interest against the obligasjonslångivere.
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Want to sell two vessels
Both the “Boa Bison” and “Boa Jarl” was built by the former Noryards shipyard in Rissa in 2015. Both vessels were built to take on missions in the oilfields in the north Sea. They will Boa Offshore now get rid of.
the Market for our kontruksjonsfartøy has been significantly worse for us throughout the fall. We work with you to get sold our two vessels, the “Boa Bison” and “Boa Jarl”, but the sales process does not go forward as planned. In addition, we are experiencing a slightly weaker taubåtmarked than what we had seen for us for a short time back, ” says Kvalvik.
– What are the consequences of the economic situation?
– We need to put us down with our financial creditors and find a plan forward. It is what we work with and have a good plan for. In the meantime, go to the company and its operations up to customers as planned, ” says Kvalvik.
Read also: Noryards Fosen owe Bjørnevik over 100 million
Affects the manning at sea
– Will a sale of “Boa Bison” and “Boa Jarl” be a rescue?
I will not comment on the solution or plans. It is the insider information.
– Is the situation serious?
– It says itself, ” says Kvalvik.
the Company has previously carried out job cuts. The restructuring does not nedbemaninnger, but opplagsituasjonen affects sjøansatte, according to Kvalvik.
Boa Offshore has a fleet of just over 40 offshoreskip, barges, and tugs. Per date is three tug boats and three offshore vessels on the way up.
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