Giant US private equity fund Oaktree Capital management is poised to take a big stake in Norwegian shipowner Golden Energy Offshore Services (GEOS).

The fund has been awarded warrants for shares that could see it build a 50% holding in the Oslo-listed platform supply vessel (PSV) operator in a further sign that the offshore vessel recovery is well under way.

The move is part of a long-term finance deal for two PSVs built in China.