ONE OF THE MANY industries impacted by the severe decline in oil prices this year is the offshore supply vessels (OSVs) industry. OSVs are efficient and vital components of the oil and gas industry. They provide logistical support for offshore drilling platforms—from logistics to rescue services—and form a maritime-industry subsector that generates more than $25 billion in annual revenues. Many different types of vessels make up the OSV market, which is now at a low point caused by a plunge in oil prices and excess industry capacity. Companies, including those comprising the major segments—platform supply vessels (PSVs) and anchor-handling tug supply (AHTS) craft—face serious challenges and have to respond to radically altered economic conditions.
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