All oil companies involved in drilling, exploration and production require the support of offshore support vessels - this is a fact. Companies like BE Shell, ConocoPhillips and ExxonMobil constantly require anchor-handling tug/supply (AHTS) vessels to tow their rigs to and from location, while they require platform supply vessels (PSVs) to transport crews, vital fluids and equipment to and from the drilling site. The hiring of vessels from the spot market can be a weekly - even daily - occurrence for these companies, while they will also hire vessels on term deals lasting between one month and five years firm as and when required. Indeed it is the longer term fixtures which become the real 'game changers' in the North Sea OSV market, as these deals can have a significant influence on the overall supply and demand balance within the region.
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