Swire Pacific Offshore (SPO), a Norwegian offshore service company, has announced that by February 2020 it will be closing its wholly owned subsea services subsidiary, Swire Seabed AS as a result of the effects of the prolonged industry downturn. After that, the operation will be relocated to its Singapore office.
The inspection, maintenance and repair (IMR) and light construction vessels, which are currently managed by Swire Seabed, will be operated and marketed as part of SPO’s core fleet from its Singapore head office. The Norwegian vessels will be re-flagged to Singapore. SPO’s OSV services and its offshore windfarm installation business, Swire Blue Ocean, will not be affected by these changes, the company said.
Swire Seabed operates four multi-purpose support vessels, Seabed Worker, Seabed Supporter, Seabed Constructor and Seabed Stingray, according to its website.
“It is an extremely difficult decision to close Swire Seabed’s operations in Bergen, but the ongoing state of the market makes this restructuring of our subsea operations necessary,” SPO’s Managing Director, Peter Langslow, said in a statement.
“Over the years, the Swire Seabed team has had a number of significant achievements and I would like to recognize the hard work and professionalism of our colleagues, both seafarers and shore-based employees.”
“Swire Seabed will close along with Swire Seabed Subsea AS, Swire Seabed Shipping AS and Swire Seabed Sea AS effective from the end of February 2020,” SPO said.