Right now the North Sea oil market is not what it has been. Oil companies are slowing down their investments, several of them have failed to achieve convincing results, and this can be felt by suppliers right away. This includes Semco Maritime, which has between 80 and 85 percent of its business tied to the North Sea.
"The North Sea is not very strong right now. The growth is taking place in Asia, where we're trying to become part of the food chain further down in the production. We believe that the North Sea will be able to maintain its volume on the long-term, perhaps even grow a little. On the long-term, that is," Semco Maritime CEO Steen Brødbæk tells ShippingWatch.
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