Oceanteam and Bourbon defer repayment on joint venture vessels

Oceanteam and Bourbon, the joint owners of CSVs Bourbon Oceanteam 101 and CSV Southern Ocean, have entered into an agreement with financiers to defer the Q1, Q2 and Q3 instalments for 2020 under the vessels facility agreement until its expiry in 2022.

The partners believe the deferment will provide flexibility to perform planned capex activities on both vessels this summer and to cater for the reduced utilisation of the vessels.

Earlier this year, Oceanteam and Bourbon already deferred the installments on the two vessels once. The companies said they will use the funds made available by the deferment to perform the operational maintenance program on both vessels later this year.

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