Emas Offshore updates financial information

BELEAGUERED offshore support vessel owner-operator Emas Offshore Ltd has updated its financial information as well as that of one subsidiary, Emas Offshore Private Ltd.

For the parent company, non-preferential unsecured creditor liabilities were restated with the changes being that bank loans and payables are now US$49.3 million versus US$194.5 million previously, while the difference is now in "contingent claims", which is now US$220 million versus US$75 million previously. The net liability position remains unchanged at US$910 million.

For Emas Offshore Private Ltd, total liabilities are now US$528 million, up from US$356 million previously. It is in a net liability position of US$508.7 million.