OffshoreSubsea 7 is laying off 3,000 employees and will reduce its active fleet of 32 vessels by up to 10 vessels in response to the corona-induced oil crisis. The drastic measures are expected to deliver...Read more
Ro/ro shippingPRESS RELEASE – Wallenius Wilhelmsen (WW) is taking “decisive action” in response to the coronavirus. The company will reduce its active fleet by sending 10 vessels into cold lay-up, scrapping another four vessels and possibly...Read more
Oil & GasOffshore supply vessel operator Tidewater plans to dispose of 46 vessels in an attempt to improve its balance sheet. Despite improving market conditions and a 20% hike in revenue, the company recorded a net loss...Read more