Asian imports could result in vessel oversupply

摘要

Owners in the Middle East are anxious over the possible mobilisation of vessels from Southeast Asia if demand slides in that region due to the recent fall in oil price. The Middle East offshore support vessel (OSV) market is finely balanced, with the supply of vessels just about meeting long-term charter demand. Some owners are chartering in vessels to meet their contract commitments, which has led to an increasing number of Asian operators mobilising their assets to the Middle East. But there are fears that more of this could lead to an oversupply of vessels in the region. Stanford Marine general manager Darren Reeves said Asian owners could be attracted by the higher charter rates in the Middle East.