Merged broker brings experience to bear in challenging market

摘要

A little over 12 months after Derrick Offshore became part of the Pareto group, the well-known broker finds itself working in an industry that has changed beyond recognition from the one that prevailed at the time the company was sold in August 2014. The oil price has fallen steeply from its pre-crash level of in excess of US$100/barrel (it was hovering at around US$50/barrel as this was written), day rates have fallen, newbuilding activity has all but dried up and redundancies, cutbacks, cost reduction and consolidation are the order of the day.