The massive Swire Pacific group is aiming to invest heavily in offshore-support vessels (OSVs) over the next two years through its marine unit Swire Pacific Offshore (SPO).
The Hong Kong-listed group says it is prepared to spend as much as HKD $11bn ($1.4bn) in a bid to tap further into rising offshore oil production.
Chairman Christopher Pratt says the investment would act as a hedge against the surging costs for its airline business, Cathay Pacific, which has been a known strategy of the group for many years.
