Vroon sailing towards finalization of financial restructuring

  • Business & Finance

Vroon, a Dutch company specializing in offshore and shipping business, has made a step forward in its efforts to finalize the financial restructuring of the company.

The shipping company said on Friday it has reached an in principle agreement with all its lenders regarding the terms of its financial restructuring.

The agreement, which is only subject to final documentation and credit committee confirmation, is an important step forward towards the finalization of Vroon’s financial restructuring, the company explained.

“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 further said.

The company also emphasized it is committed to continue taking measures to strengthen its financial condition during these turbulent times.

With a shore-based staff of about 350 and around 2,800 marine personnel worldwide, Vroon operates and manages, under different brand names, a fleet of approximately 200 vessels.

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