Whatever lofty future goal we pursue, it’s important to remember that policy and technology are only part of the solution. No policy, no technology, no system can deliver a better industry without the right people on the front lines living the changes and making it happen.

Seadrill says debt ‘forbearance agreements’ with senior creditors have expired, leaving it vulnerable to default. It had struck the deals to suspend interest payments last month as part of efforts to restructure its balance sheet

Hermitage raised $80m from creditors for its 10 platform supply vessels, while Tidewater subsidiary VTG Ships bid $5.3m for its 11 crew boats. The PSV proceeds will go towards paying down debt with no cash consideration for the company