DP World continues to expand its business footprint acquiring Topaz Energy and Marine, a major player in the offshore marine space.
Survitec has restructured its offshore division and introduced new offerings to prepare for an anticipated growth in the offshore market.
An improving offshore marine market saw Topaz Energy & Marine back in the back in the black in Q1 with 86% fleet utilisation.
Singapore’s shipyard group Sembcorp Marine is expecting its production activity to remain low amid an improving offshore market due to stiff competition and potentially lengthy time needed to secure new orders.
Malaysia’s Bumi Armada has refinanced $660m of its short-term corporate debts to improve its balance sheet and is looking to dispose of some assets to free up cash.
Singapore shipyard group Sembcorp Marine (Sembmarine) is set to cease operation its Tanjong Kling Shipyard at year end, formerly Jurong Shipyard, as it consolidates business at its Tuas Boulevard mega-yard.
MacGregor and China State Shipbuilding Corporation (CSSC) have signed a letter of intent on strategic cooperation that will see MacGregor strengthen its presence in China.
Bernhard Schulte Shipmanagement (BSM) is preparing for future opportunities and has set up a new business unit to focus on the oil and gas (O&G) and offshore energy renewables markets.