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Singapore offshore support vessel sector bleeds more jobs

Thursday, September 22, 2016 - 05:50

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

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