June 19 - Family-owned Dutch shipping group Vroon has responded to negative articles published in the Dutch media concerning its financial state.
The Telegraaf reported on Friday that the Breda-based concern has debts totalling EUR1.1 billion (USD1.23 billion), and some activities will be trimmed down.
It added that Vroon's 22 creditors, which include the big Dutch banks and insurer Delta Lloyd, have agreed to a restructuring plan for Vroon.
In response, Vroon said that since late 2016, it has been in discussion with its banking and finance partners to address the financial consequences of this situation. These discussions have progressed in a constructive atmosphere and it expects to reach agreements over the summer.
It explained that other than in the offshore support vessel market, where it has a presence through its subsidiary Vroon Offshore Services, its other businesses are all performing in line with expectations.
Vroon's activities in the offshore wind energy sector operate under the MPI banner, where it is active in offshore wind turbine installation and maintenance markets with a range of vessels, equipment and service offerings.
In an official statement it said: "Despite the challenging market conditions during 2016, Vroon produced a positive cash flow, although did make various impairment charges on the book value of vessels that led to negative net results, for the first time in the company's history."
Pictured below, MPI Resolution was the world's first purpose-built vessel for installing offshore wind turbines, foundations and transitions pieces.