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Subsea 7 expects lower revenue in 2019

There are upsides emerging in the offshore sector after several weak years, says Subsea 7. But the downturn in recent years mean that CEO Jean Cahuzac does not expect improved revenue this year. Rather the opposite.

Photo: Subsea 7

The downturn in the offshore sector, with low activity and pressure on prices, makes offshore shipping company Subsea 7 expect a decrease in revenue in 2019.

Even though the shipping company sees bright spots in the sector, there is still some way to go before notable improvements emerge in the sector, says Subsea 7 in the annual report, published Friday.

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