Norwegian OSV giant SolstadFarstad is working to push through more industry consolidation and vessel sales as cash reserves fall.
The company was formed last year through a combination with Farstad Shipping and Deep Sea Supply, having already taken over Rem Offshore.
The world's biggest owner of high-end OSVs said that due to the significant reduction of liquidity since the date of the merger, which continued also in the first six months of 2018, it has been monitoring the situation closely.
