Forced vessel sales, mergers and consolidations are on the cards for the offshore industry as assets decline in value, according to a consultancy.
The wait for a “significant pick up” in the North Sea’s subsea vessel market is likely to continue until 2021, according to a leading shipbroking firm.
Ports operator DP World has acquired offshore vessel business Topaz Energy and Marine for £845million.
Aberdeen-based catering and facility-management business Entier is to add a further 85 people to its workforce after winning a three-year deal with energy service company Technip.
Two top bankers from Royal Bank of Scotland are at OTC.
Drilling contractor KCA Deutag said yesterday it was considering buying new offshore vessels after taking a step forward in its plans to grow in south-east Asia.