Vessel exodus buoys US OSV market

摘要

The OSV market in the US Gulf experienced modest improvement this month as overall utilisation rose from 73% to 75%. While some vessel owners still echo the sentiment "too many boats" the supply of PSVs in the US Gulf continues to shrink while the number of jobs remains fairly steady. Immediate availability for PSVs was down in August. However, much of the shallow-water work is volatile and could either end abruptly or continue on a month to month basis for some time. That said, vessel owners working shallow-water spot jobs have reported more favourable conditions, partially due to the fact that the number of vessels leaving the US Gulf has less competition for work.