ShippingWatch

North American renaissance lures Wrist Ship Supply

The low oil price has made it difficult to develop the new offshore growth markets in Angola and Brazil. On the other hand, North America has performed better during the crisis and offers new opportunities for acquisition-hungry Wrist Ship Supply.

Photo: Wrist Ship Supply

The Danish supply company for carriers and offshore, Wrist Ship Supply, is adjusting its acquisition strategy after the otherwise promising offshore growth markets in Angola and Brazil have become difficult to develop due to the low oil prices.

"We've made some adjustments in terms of how busy we are in Angola and Brazil. These two markets are very much affected by the situation in offshore. Following the oil price shock many of our customers have experienced, and the slide in demand, it makes sense for us to spend more energy in Asia and marginally more in North America, which is experiencing a renaissance," says Wrist Ship Supply CEO Robert Kledal in an interview with ShippingWatch.

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