Norwegian offshore news site Nett.no is reporting that local bank DnB is holding discussions aiming to push through a merger of three OSV firms, all based in Fosnavag in the northwest of the Scandinavian country.
Discussions are ongoing with senior management at Havila Shipping, Olympic Shipping and Rem Offshore on the proposed merger, the website reports. The three companies together control around 70 OSVs.
Splash did not hear back from any of the companies involved despite repeated attempts to clarify the news report.
One broking source told Splash: “Consolidation is a good thing and they can really trim down some costs in the business. There’s lots of fat running three shipping companies in a village like Fosnavag.”
