MMA Offshore seeks help from DeloitteCompany News // August 11, 2017
The Australian newspaper reports that MMA Offshore has hired financial services firm Deloitte to help it through its challenges with lenders.
Earlier this year MMA announced it had reached a deal to pay only the interest on its loans for the short term until it could improve its position through fleet sales.
It made a A$45 million principal repayment on June 30 after selling its Dampier Supply Base to Toll Group for A$44.1 million and it extended its loan term for six months until September 2019. So far, at least 19 vessels have been sold for A$55 million. The ASX-listed MMA Offshore has about 30 vessels.