New DOF group chairman Hans Olav Lindal believes offshore support vessel (OSV) owners must now restructure or fail.
This is due to the double effect of the oil price crash and coronavirus restrictions on an already struggling sector, in which some companies were still trying to force through a second round of refinancing after the 2014 slump.
The Norwegian lawyer is being elected this month to oversee the group's restructuring after major shareholder Helge Mogster resigned from his position last week.
