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    Subsea UK issues statement about Ceona Offshore

    News // September 4, 2015

    Following news on 4 September that Ceona Chartering had defaulted on a charter deal with GC Rieber Shipping, Neil Gordon, chief executive of Subsea UK, issued the following statement: 

    "With its fresh approach to subsea vessels and construction, Ceona is a good example of a young, dynamic company aiming to do things differently. Today's announcement highlights the tragic consequence of major project cancellations and postponements and lack of new projects coming onstream. 

    "The market is getting even tougher and, as an industry, we must be doing more and doing it faster to adjust to current conditions. Subsea UK, along with other industry bodies, is focused on driving real changes in behaviour that will result in the necessary actions that deliver true collaboration, genuine efficiencies and a re-setting of the cost base that is not simply about cutting margins."

    It is not known at this time how precarious the company's position is, but industry sources suggest that an announcement is expected next week.


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