While the shipbuilding market continues to foresee weakness, group chief executive Leong Seng Keat is much more upbeat about the chartering segment and the potential for work from offshore platforms

The platform bridges the gap between shipowners and the community of applications providers that neither have core competencies nor much interest in handling the hardware side of the equation

Velesto, on the other hand, expects rig utilisation rate to remain high in 2020 and expects to benefit from the continued demand as one of the more established players in the region

Levesque joined the group in 2010 as chief commercial officer before taking on the role of group managing director in 2016

Meanwhile, compatriot offshore player Dayang saw vessel utilisation at its OSV unit Perdana Petroleum hit 91% up from 79% in the second quarter of 2019 because of expanded scope of work and synergies with its parent

A shareholders’ vote on the deal is expected to be held in the first quarter of 2020. However, Fairfax, the Washington Family and David Sokol, who together hold approximately 65% of outstanding Seaspan common shares, have already indicated they intend to vote in favour