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Singapore offshore support vessel sector bleeds more jobs

Mike Meade, chief executive officer of M3 Marine, offered this prediction after factoring in the cost rationalisation drives at the three OSV players: "As we come through this downturn, I see at the end of the tunnel a strengthened DSS (thanks to the Fredriksen factor), a slimmed-down- but-survivable GulfMark and a leaner (but not meaner) Tidewater."


THREE leading offshore support vessel owner-operators have downsized operations out of Singapore, in light of depressed contracting activity and charter day rates in South-east Asia.

The Business Times understands that Deep Sea Supply (DSS) and Tidewater have slashed