The operating result for the full-year 2016 declined at BW Offshore. The setback was mainly due to losses and expenses related to the wrecked FPSO vessel Cidade de São Mateus. On the other hand, the insurance money from that accident compensates for some of the decline.
Norwegian shipping magnate Kristiam Siem tells Norwegian media that the consolidation wave in offshore is happening far too late. "The industry did not consolidate when it could have done so freely," he says.
The market for offshore wind is projected to experience massive growth ahead of 2020 in Europe alone. Still, Danish offshore service carrier Ziton is looking to maintain its dominant market position, CEO Thorsten Jalk tells ShippingWatch.
A multiple year boom could be coming to an end for the colorful Norwegian shipping magnate John Fredriksen's crown jewel, Seadrill, as the company has turned out to be USD 14 billion in debt and at which a race against time and unsatisfied bond holders has begun.
J. Lauritzen will gradually phase out larger dry bulk vessels when their contracts expire. "We're strong in Handysize, and that's where we've historically been the most profitable," CEO Mads P. Zacho tells ShippingWatch.