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Marine service provider denies distressed sales

Pacific Richfield says it's cutting its fleet by up to half to pare debt amid the market downturn
Tuesday, December 1, 2015 - 05:50
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Pacific Richfield Marine Pte Ltd has denied that its vessels are being offered for distressed sales as indicated in a report released over the weekend.

Singapore

PACIFIC Richfield Marine Pte Ltd has denied that its vessels are being offered for distressed sales as indicated in a report released over the weekend. It also pointed out that its oustanding bank debt was just over US$100 million, not under US$400 million as suggested.

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