The oil price slump has claimed a victim in WA oil and gas vessel operator Go Marine Group, which has been put into administration.
Go Marines board appointed administrators from KordaMentha last Friday to the company, which is owned by Singapores Otto Marine.
Its understood there are plans to effect a restructuring of the business, which is continuing to trade.
According to its website, Go Marine operates 16 vessels. It has about 380 employees.
The collapse comes amid upheaval globally among vessel operators because of the industry slump which has seen mergers take place and companies seeking bankruptcy protection.
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Read the full article at: https://thewest.com.au/business/oil-gas/vessel-operator-go-marine-suffers-financial-collapse-ng-b88640078z