Olympic Ship says extends stand-still agreement with creditors until Oct 28

Norway-based offshore vessels operator and owner Olympic Ship  has been granted a seven-day extension to its stand-still period by secured lenders up to October 28th.

Olympic Ship said that it was continuing discussions with the secured lenders to adjust the repayment profile of the financial debt, and that it had initiated discussions with bondholders. The company said that it was working within the framework provided by the secured lenders, but that further time was required to secure a comprehensive solution. Olympic Ship has a fleet of 23 oil service vessels.