Marine Link
Saturday, March 17, 2018

GulfMark Sails Out of Bankruptcy

Maritime Activity Reports, Inc.

November 17, 2017

File photo: GulfMark Offshore

File photo: GulfMark Offshore

GulfMark Offshore, Inc. said it has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the U.S. Bankruptcy Code.

The company’s court-approved reorganization plan went into effect November 14, 2017, and converts approximately $429.6 million of outstanding bonds into equity, and raises approximately $125 million of new equity capital.
“GulfMark is now positioned as one of the best capitalized companies in the global offshore industry,” said Quintin Kneen, President and Chief Executive Officer. "With significantly improved financial strength, we are poised to build upon the world-class service we provide to our customers while capitalizing on value enhancing opportunities for our shareholders.”
Maritime Reporter Magazine Cover Mar 2018 - Annual World Yearbook

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News