Addressing the oversupply issue

摘要

In years gone by, the cyclical offshore support vessel (OSV) market has survived and even thrived during challenging periods, with demand for modern, high spec tonnage rising continually. The current troubles seem much harder to get through for many vessel owners and operators, however, as demand is now stagnating, at a time when newbuild vessels continue to flood into the market. The PSV side is currently being very badly affected, with large vessels being fixed for cargo runs at rates as low as £2,500 per day - the absolute bottom of the barrel for expensively ordered PSVs in the North Sea.