Germany's Harren & Partner is buying an offshore construction vessel (OCV) from UK operator OIG Group - after selling it in 2011.

The 6,800-dwt Blue Giant (built 2008) is being acquired for an undisclosed price and will be managed by the Bremen owner's offshore department, headed by Robert Fowler.

Peter Harren, its founder and managing director, said: “Although the oil markets are currently still recovering, we have deliberately opted for this investment despite its counter-cyclical nature.