Stig Remoy-led Olympic Subsea is trying to complete a financial reorganisation by 15 October.
The company is seeking a long-term solution for interest-bearing fleet-financing debt of NOK 2.8bn ($302m) in tough offshore vessel markets.
Olympic had warned in June that its financial position was unsustainable and agreed a payment standstill on interest and principal amounts running until 1 September.
In its second quarter result statement, the shipowner has said talks continue and it is looking to finalise an arrangement with lenders next week to reduce the amount it repays.
The group also has net bond obligations of NOK 292m.
Fruitful talks?
Olympic said the negotiating process is "ongoing and constructive."
The shipowner admitted in June it was in default in terms of one loan, after the lender concerned walked out of restructuring talks, with the intention of exiting its relationship with the company.
This in turn triggered a cross-default under other agreements, but its other banks waived these.
The company is the last of the Oslo-listed offshore owners to report its second quarter figures.
The net loss was NOK 51.32m to 30 June, against profit of NOK 8.43m in the same period of 2019.
Operating revenue was NOK 138m versus NOK 183m the year before. Ebitda was NOK 35m, a margin of 27%.
The six-month loss stands at NOK 122m, compared to a deficit of NOK 17.7m in 2019.
Total assets amounted to NOK 3.3bn on 30 June, with cash at NOK 67m.
The company said: "After a weak winter and spring season the company sees increased activity within both segments.
"It is too early to guide long term on how recent spread of Covid-19 and the ongoing financial market turbulence will impact overall activity."
The fleet comprises multipurpose offshore support vessels, including platform supply vessels and anchor-handling tug supply units.
At end of the period all 11 of the vessels were in operation, as it moved two out of layup.
