Noble estimated it would have received net proceeds of about $30 million if the vessels had been sold, after repayment of mortgages associated with the ships and other costs.
"Noble Group wishes to update that the vessels are, in the current market, profit generating and cash flow positive," it said in a statement. The vessels were still available for sale and the company has started discussions with interested third parties, it added.
The proposed disposal of the vessels is a part of the company's debt reduction plans. This week, Noble proposed a deal under which existing shareholders' equity would be nearly wiped out, while the restructured company would have much lower debt.
Reporting by Aradhana Aravindan