Banks have to take the lead in O&M consolidation: analysts

Singapore

EZRA Holdings' massive impairment charges and a second merger deal in Norway to create the world's fourth-largest offshore support vessel (OSV) player are telling signs that consolidation is on the horizon in the offshore and marine (O&M) sector.

Observers noting that the government aid released catered mainly to the broader O&M sector, further argued that bank lenders have to lead by writing down debts to the sector to facilitate consolidation, and ensure those left standing can compete on the global stage.