Canada's Horizon Maritime Services (HMS) is focusing on consolidation opportunities and building a modern fleet to recover from a sluggish offshore market.
Scrapping of older tonnage and consolidation are "critical factors" in driving a healthy recovery in the offshore support vessel market (OSV) market, company chief executive Sean Leet told TradeWinds.
HMS had been evaluating various consolidation opportunities, Leet said, adding the company had managed to secure strong contracts with major customers, including BP, Equinor and TechnipFMC, even in the midst of an industry downturn.
