ShippingWatch

Semco's biggest market is in the doldrums

Around 85 percent of Semco Maritime's business is tied to the North Sea meaning that the company notices that the big market is under pressure, CEO Steen Brødbæk tells ShippingWatch.

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.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

HMM doubled revenue in Q1

South Korean container line HMM follows the trend of European competitors, which have already presented their first-quarter financials. Revenue doubled in a significant surge.

Further reading

Related articles

Latest news

See all jobs