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Fri 17 Jun 2016, 15:16 GMT

Bankruptcy petition against Viking Supply Ships withdrawn


The petition for bankruptcy was made for an unpaid amount of around $2.5 million.

Norseman Offshore AS has withdrawn the petition for bankruptcy which it filed in the Maritime and Commercial High Court in Copenhagen on 9th June 2016 against Viking Supply Ships A/S (VSS A/S).

Viking Supply Ships A/S is a subsidiary of Viking Supply Ships AB (publ), a Swedish company with its headquarters in Gothenburg.

Norseman Offshore is the owner of the anchor handling tug supply (AHTS) vessel Odin Viking, which is on a bareboat charter with VSS A/S. The petition for bankruptcy was made on the basis of an unpaid amount of around $2.5 million.

Viking Supply Ships AB (publ), whose operations are focused on offshore and icebreaking primarily in Arctic and subarctic areas as well as on shipping services mainly between the Baltic Sea and the Continent, has in total about 500 employees and the turnover in 2015 was SEK 1,977 million. The company's B-shares are listed on the NASDAQ Stockholm, Small Cap segment.

At the time the bankruptcy petition was filed, the company said that the parties had been in discussions for several months as part of the overall financial restructuring of the group as described in the company's annual report for 2015.

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