Owners pressed to lay up vessels and cut rates

摘要

Owners of offshore support vessels (OSVs) in West Africa have secured contracts recently despite a major downturn in offshore drilling and vessel charter rates. Vessel operators and service companies have secured charters for projects in Angola, Congo and Ghana in recent months, leading to hope that more work will be coming from the region, but in reality, there are far fewer charters around for OSVs, resulting in plunging rates, plenty of vessels in layup and a migration of ships out of the region.