With the international dry bulk market sinking to record lows in the first few months of 2015, companies offering lifeboat maintenance services are trying to keep in step with shipowners' need to cut operating costs. In May, SeaSafe Marine, the lifeboat maintenance service company of Wallem Group, entered a five-year global sole service supplier agreement with Masterbulk Singapore. The agreement is for lifeboat services on Masterbulk's fleet of 20 open-hatch gantry crane vessels. SeaSafe Marine's current client list includes companies from across the maritime sector such as cruise, tankers, and bulk carriers. The company is an independent lifeboat servicing and testing organisation (ILSTO) and is an authorised representative of major lifeboat and davit manufacturers, with class and flag approvals.
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