Steinar Draegebo, ICE Group Chairman.

“2015 was difficult; 2016 will be brutal”; so proclaimed a headline in a recent offshore oil & gas industry newsletter. For many shipyards and oil service companies that ominous prediction may well be correct. As a designer of drill ships, FPSOs and other oil service vessels, we are conscious of the difficulties in that industry. However, ICE has huge experience also in sectors that are less impacted by the low oil price; thus we are now pursuing marine design work for the defence and other industries. Providing high quality engineering at very competitive prices is an advantage at a time when most clients are keen to reduce costs. Our solid finances enable us to invest in increased productivity and to continue to develop in-house designs. I therefore look forward to 2016 with confidence and cautious optimism. I wish our customers, employees, business associates and other friends all the best for the New Year!