Boa Offshore is hopeful that real improvements will be seen in offshore vessel markets by 2022.
The private Norwegian shipowner said the situation remains "fragile" despite recent improving trends, following the demand destruction caused by pandemic lockdowns in 2020.
Any recovery this year is highly dependent on Covid-19 vaccines being delivered in significant scale, the company believes.
Boa runs 26 vessels focused on subsea, barge, towage, anchor-handling, engineering and project management work.
