“It is a bit of a feeding frenzy out there. Every man and his dog is looking at Hallin at the moment and every broker in the world is on the case with the CSS Derwent.”

An offshore shipping source reveals how a cut-price subsea ship has buyers slavering. It’s a dog-eat-dog business and there can be only one best-in-class.

Cancelled Hallin vessel sets off feeding frenzy

“For the time being, the financial impact cannot be assessed; however, it must be assumed that the group's equity is lost.”

OW