Through John and his management team, the Board is committed to the re-alignment of Adsteam's strategic and operational priorities'.

He went on to say, 'Despite challenging market conditions, Adsteam's fundamental businesses remain strong, and can generate significant and reliable cash flows'.

The main proposals resulting from the review include, refocusing on Adsteam's traditional core ship assist business. Non-core assets will be disposed of, with the divestment process commencing immediately. The latter will include the 50% investment in the North American based barging and fuel distribution company Northland Holdings, bunkering businesses in Australia and overseas, and the Australian stevedoring business.

Complimentary ship services such as line handling, mooring, deep sea services, salvage and tug barging will be retained along with Flinders Port. Also included is the establishment of a centralised operating centre in each of the key Australian and UK markets, replacing the distributed operating network.

As yet it is unclear what the implications are for the Adsteam tug fleets around the UK. It is known however that a careful review of vessel deployment is taking place to ensure that the most appropriate plant is available in each of the six main operational areas. This has already resulted in two major units being transferred from Australia to the south east of England, where they are due to arrive shortly.