Dive Support/Subsea/ROV

Offshore services firm Subsea 7 will axe approximately 3,000 jobs from its global workforce of 12,000 and reduce its number of active fleet by up to 10, due to a “significant deterioration” in the oil and gas market.

Maersk Supply Service (MSS) will lay off approximately 55 staff on the back of the weak oil and gas market.

Singapore-based offshore vessel owner Tasik Subsea has been awarded $26.8m at arbitration over a charter termination for the vessel Southern Star by Fugro.

Quintin Kneen, president and ceo of Tidewater, outlines why he sees consolidation as vital for the offshore support vessel (OSV) sector.