ShippingWatch

Novenco: Offshore market is a threat

Novenco's bulging orderbook will save the supplier from its three year deficit, but the slowdown of the offshore market and a poor shipping market could change the company's plans, CEO tells ShippingWatch.

The offshore market has resulted in a bigger orderbook for ventilation supplier Novenco, but the order intake could quickly drop and change the positive scenario CEO Steen Rasmussen of Novenco is hoping for.

"The level of offshore investments we're seeing right now is not sustainable. The major oil developers will step on the brake in the years to come, and the market is becoming over-geared in terms of investments," he tells ShippingWatch.

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