Vessels are being laid up more quickly now in the North Sea offshore shipping sector than at any point in the last crash in 2014.
Norway's Seabrokers said the slowdown has slashed rates and torn up any previous forecasts as the industry was hit by coronavirus restrictions at the same time as the oil price plunged to historic lows.
"The slowdown in the North Sea spot market has been more dramatic over the last four to six weeks than any of us could have imagined," the...
