This is Kristian Siem's way to solve the Norwegian offshore puzzle

The conditions in Norwegian offshore have reached a stalemate because too many carriers refuse to face the reality and surrender some control. They should join forces before crashing into bankruptcy, says Kristian Siem, owner of Siem Industries, in an interview with ShippingWatch.

Kristian Siem has a plan for how the hard-pressed Norwegian offshore sector can achieve consolidation. | Photo: PR

Shipowners in Norwegian offshore should join forces in a collective company in which they maintain independent vessel operations but centralize the marketing, financing and ownership components.

This is the recipe to surviving the crisis as proposed by Kristian Siem, who through his empire Siem Industries controls companies including subsea carrier Subsea 7 as well as one of the largest carriers in Norwegian offshore, Siem Offshore. In an interview with ShippingWatch, he calls for a change in mentality which he deems necessary if the many carriers in the sector want to avoid bankruptcy.

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