Siem Offshore seeks debt relief from banks, in talks to sell cable lay business

first_imgSiem Offshore’s offshore subsea construction vessel (OSCV) Siem SpearfishNorwegian shipping company Siem Offshore is seeking help from banks to ensure its survival through the downturn. The shipowner is also looking to sell its cable lay business. In preparation for an extended downturn in the offshore supply market, Siem Offshore Inc. has issued a request to its banks for installment relief and certain other changes to its bank loan facilities to ensure that the company is able to service its debt obligations through the downturn, the company informed in a statement on Monday.Secondly, Siem Offshore added, the company will issue notices for bondholder meetings in the two unsecured bond issues SIOFF01 and SIOFF02 for the bondholders to consider a proposal where the bonds will be exchanged at 80% of par value to a convertible bond with five and a half years maturity, 2 % cash interest and a NOK3 conversion price.At the same time, the company is considering strategic alternatives for its cable lay business Siem Offshore Contractors GmbH and is in negotiations with a potential buyer for this business.The outcome of these negotiations is not yet known and there is no certainty that a transaction will take place, the company concluded.Siem Offshore Contractors is a provider of submarine cable installation, repair and maintenance serving the global offshore renewable energy and oil and gas sectors as well as utility markets since 2003. Related services such as dive and ROV support, marine survey, UXO investigation and remedial cable protection services are also provided.In its 3Q 2017 report released in late October, Siem Offshore posted operating revenues of $101.3 million for the period compared to $166.2 million in the prior-year third quarter. The shipping company posted a loss of $8.3 million for this year’s third quarter compared to a profit of $2.7 million in the same period of last year.Offshore Energy Today Stafflast_img read more

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Dodgers not happy with staredown, harsh words from Phillies closer Hector Neris

first_imgPHILADELPHIA — From the Dodgers’ perspective, Hector Neris should not have been able to pitch in Thursday’s game to begin with.MLB suspended the Phillies closer for three games and fined him an undisclosed amount after he hit David Freese with a pitch in the ninth inning of Tuesday’s game, immediately after Matt Beaty had hit a pinch-hit, three-run home run off Neris to erase a Phillies lead.But Neris is appealing the discipline and is eligible to play until he has a hearing.He came into Thursday’s game, protecting a two-run lead in the ninth inning and gave up a two-out home run to Alex Verdugo. When Justin Turner’s fly ball died in Bryce Harper’s glove on the warning track in right field to end the game, an amped Neris turned toward the Dodgers’ dugout and celebrated. Fire danger is on Dave Roberts’ mind as Dodgers head to San Francisco How Dodgers pitcher Ross Stripling topped the baseball podcast empire Ferguson pitched 3-1/3 scoreless innings for OKC after being demoted in late June, striking out 12 and allowing only three hits.ALSOCatcher Will Smith left Wednesday’s game with the OKC Dodgers after being struck in the left hand when he was crossed up by a pitch. The injury is not significant and Roberts described it as a “precautionary” move to pull Smith from the game. Smith was not in the lineup Thursday. …Triple-A right-hander Justin Grimm was traded to the Cincinnati Reds for cash considerations. A big-leaguer with multiple teams from 2012 through 2018, Grimm was 4-4 with two saves and a 5.66 ERA in 35 appearances for OKC.UP NEXTMarlins (RHP Zac Gallen, 0-1, 4.24 ERA) at Dodgers (LHP Hyun-Jin Ryu, 10-2, 1.78 ERA), Friday, 7:10 p.m., SportsNet LA, 570 AM Newsroom GuidelinesNews TipsContact UsReport an Error “Neris got the save and looked right into our dugout and screamed as loud as he could, ‘(Expletive) you!’” Dodgers infielder Max Muncy said. “He’s blown about eight saves against us over the last two years. I guess he was finally excited he got one. Whatever.”Muncy was exaggerating Neris’ struggles against the Dodgers – but they have been significant. He blew the save when Beaty burned him Tuesday. Over the past two years, he has faced the Dodgers four times now. They are 7 for 13 off him with three home runs. In April 2017 at Dodger Stadium, Yasiel Puig, Cody Bellinger and Justin Turner hit consecutive home runs off Neris in the ninth, erasing a three-run lead on the way to a walk-off win.“Hard-fought series,” Dodgers manager Dave Roberts said. “He’s a guy that got suspended for throwing at our guy a few nights ago. Obviously, he’s appealing (the suspension) and he was very emotional with the save. It was a big win for them.“I think we played this series the right way, played it straight. To look in our dugout and to taunt in any way, I think it’s unacceptable. … I think that exceeds the (appropriate) emotion. Look in your own dugout. I think our guys took it personal. I took it personal.“It’s an emotional game, series. But there’s ways to handle things.”center_img No one in the Dodgers’ dugout appeared to respond. Muncy was on the top step since he would have been on deck if Turner reached base.The four games in Philadelphia this week ended the season series between the two teams (the Dodgers won five of seven). But the Phillies’ win Thursday pulled them even with the Milwaukee Brewers for the second wild-card spot in the National League, keeping alive the possibility of a postseason series with the Dodgers.SMALL STEPLeft-hander Rich Hill took the first step in a throwing program, playing catch in the Citizens Bank Park outfield Thursday morning. The first throwing session since he injured his left elbow four weeks ago lasted 25 throws from 45 feet.Hill said it had been years since he went that long without throwing a baseball but the time off was prescribed by Dr. Neal ElAttrache. This step will last two weeks with light throwing sessions every other day for now.Hill is not expected to return to the Dodgers’ rotation until September.PITCHING PLANRight-hander Kenta Maeda threw only 35 pitches in two innings Thursday night before the game was interrupted for 2 hours, 37 minutes by rain. Maeda’s next scheduled start isn’t until Tuesday against the Angels but Roberts said Maeda might pitch an inning in relief against the Miami Marlins on Friday or Saturday to help out the bullpen and “stay sharp.”PITCHING ADDLeft-hander Caleb Ferguson was recalled from Triple-A Oklahoma City on Thursday. Right-hander Casey Sadler was returning to OKC after making two appearances and pitching 2-2/3 innings for the Dodgers on this trip.Related Articles Cody Bellinger homer gives Dodgers their first walkoff win of season Dodgers’ Max Muncy trying to work his way out of slow start Dodgers hit seven home runs, sweep Colorado Rockies last_img read more

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