Siem Offshore Inc. is making a move to streamline its business by dividing into separate organizations.
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The Siem Symphony. From Siem Offshore. |
Siem Offshore OSV will be dedicated for Siem’s core offshore vessel business and will be headed up by Idar Hillersøy.
SIEM Offshore Industrial Investments will hold the remaining businesses including Siem Offshore Contractors, Joides Resolution, and its Brazilian outfit Siem Wis, along with certain property investments.
Terje Sørensen will continue as CEO of SIEM Offshore Inc. and head of Siem Offshore Industrial Investments.
Siem says that its board believes that the changes will help focus and develop the core offshore vessel business as well as be beneficial in developing and growing the business in Siem Offshore Contractors and finding strategic solutions for the other businesses.
Hillersøy served as CEO of the company’s 50% owned affiliate Secunda Canada LLP since December 2012, and prior to that was chief commercial officer at Simon Møksters Rederi.
In January, Siem Offshore accepted the delivery of its newbuild dual fuel PSV, the Siem Symphony, from Hellesøy Verft Shipyard in Norway.
Siem Symphony is under a four-year contract for Total Norge and will be supporting Total’s operations at the Martin Linge field in the North Sea. The contract comes with four one-year options.
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