US-listed offshore contractor McDermott International saw new contracts quadruple in the second quarter compared with a year earlier, the first quarterly earnings period after combining with onshore contractor Chicago Bridge & Iron Co (CB&I).
McDermott’s offshore activity showed a strong performance. The company indicated that its decision to carry out a costly upgrade to its flagship 199-metre pipe-layer Amazon (built 2014) at IHC Holland was testament to the turning tides in the subsea sector, especially into 2019.
