OSLO, Nov 26 (Reuters) – Norwegian offshore provide vessel proprietor World Wide Supply will be unable to make a scheduled curiosity cost on its debt on Nov. 27, the transport agency stated on Thursday.

Companies serving the oil business are affected by weak demand as oil firms in the reduction of on investments and exploration to protect money following the autumn in oil costs.

World Wide Supply stated in its third-quarter report that it had bond money owed of $146.7 million on the finish of that quarter and has beforehand stated it was in talks with its lenders concerning attainable actions.

The agency, which doesn’t have listed shares, didn’t specify the dimensions of the missed curiosity cost.

Four of the corporate’s six vessels are presently out of labor, giving it a median fleet utilisation of simply 32.3 % in October, it stated earlier this month.

Two of its vessels have been laid up in Norway since early September, whereas two have been out of labor since Brazilian oil agency Petrobras terminated contracts across the identical time.

The two remaining vessels are nonetheless on contract with Petrobras. (Reporting by Terje Solsvik. Editing by Jane Merriman)

(c) Copyright Thomson Reuters 2015.

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