It was a hard blow for Rolls-Royce, when the offshore crisis really started to make its mark in the second half of 2015, where Rolls-Royce Marine warned of 600 layoffs in Norway. Actually the blow was so hard, that as early as the third quarter interim report in 2015, the forecast for offshore was downgraded for 2016, by an amount approximating USD 150 million.
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In the drama surrounding the merger between tanker majors Euronav and Frontline, one of the arguments from Euronav’s biggest shareholder, the Saverys family, is that the merger will pull Euronav in the wrong direction on the green agenda. Euronav tells ShippingWatch that the company rejects this criticism.