Balancing act: record OSV scrapping improves market fundamentals

摘要

Global utilisation rates for OSVs are up 9% year-to-date (ytd) and the number of working vessels has risen by over 300 since 2017, indicating a continued strengthening in the offshore oil and gas market. UK-based ship broker and research firm Clarksons Research reports that global utilisation has reached 64% and, led by a strong UK North Sea peak season for large PSVs, has prompted a 12% increase in its OSV rates index.