In its Q2 results, Oceanteam Shipping ASA said it is now focusing on the offshore wind market, following the prolonged downturn and the volatility in the oil and gas market.
Even though the oil and gas market is challenging, other sectors, like offshore wind, show a continuous growth, Oceanteam explained. “Our competitors’ focus has shifted towards the latter, increasing the general competition in the Offshore Wind market. The players in our operating markets have an increased focus on reducing costs and increasing their efficiency. This opens up several possibilities for Oceanteam to provide innovative solutions for both new and existing clients.”
The company said that it believes demand for services related to the offshore renewable industry will increase in 2016 and beyond and that it remains in a strong position to meet the future demands and requirements in this market.
Oceanteam became the owner of KCI The Engineers, RentOcean, and Oceanteam Cable Solutions, which gave the company the advantage to cover more areas in the offshore wind market.
Image: RentOcean (Illustration)