Reach Subsea has remained lean, agile and flexible to maintain 83% vessel utilisation compared with the industry average of 43%, while other entrants have been dropping like flies.

Given this high utilisation, the Oslo-listed, Haugesund-based company is on track to add two vessels to its five-strong fleet by 2020, chief executive Jostein Alendal tells TradeWinds.

“This is absolutely a spot market and visibility is very low,” Alendal said this week.

“To