DNB expects fewer offshore companies, ships and rigs

The North Sea offshore sector must make even more resolute cuts, meaning fewer players, ships, rigs and platforms. DNB's new head of Ocean Industries, Jan Ole Huseby, presents his view on the offshore market after the corona and oil price crises.

Photo: DNB

It has not been very long since the Nordic offshore sector was regaining its confidence in the fact that several years of dramatic transformation were finally showing results, and that a more promising market was opening up, where companies that had come out on the other side following years of consolidation could maintain a decent business and, in time, even become a strong asset to their owners.

Nor has its been very long since the oil price traded at USD 68 and thus to a certain degree kindled the optimism still circulating, despite there being in fact concurrent restructurings performed by several important companies in the supply industry. We need only go back to the start of January this year.

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