Vroon Agrees Restructuring Terms with Lenders

International shipping company Vroon has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring.

The agreement is subject to final documentation and credit committee confirmation, Vroon said.

”The agreement marks the important step towards the final stage of a process initiated in late 2016 following continued challenges in shipping markets. Vroon is confident that the envisaged restructuring will provide generous runway to implement its strategic plans. Vroon wishes to thank its finance partners for their constructive support and trust in the business,” the company said in a statement.

Vroon operates and manages, under different brand names, a fleet of approximately 200 vessels, including four wind turbine installation vessels operated by MPI Offshore and 14 wind turbine maintenance vessels operated by MPI Workboats.

The company’s fleet also includes seven walk-to-work offshore support vessels active in the offshore wind market.