OSV owners restructure for the recovery

摘要

Areshuffling of the OSV sector in southeast Asia is underway, as owners look to solidify their positions in a slowly recovering offshore market through mergers, acquisitions and joint ventures. Singapore exchange-listed Pacific Radiance Ltd, with more than 100 vessels in Asia, Africa and Latin America, is one of the OSV owners on the prowl. While OSV oversupply in the market persists alongside subdued charter rates, Pacific Radiance executive chairman Pang Yoke Min, says, "We continue to watch industry developments closely and be ready to respond to any emerging opportunities."