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Pareto: Recovery in offshore will be painfully slow

There is at this point little doubt that the offshore market for supply vessels has bottomed out, says investment bank Pareto Securities. But the road back to better days could be very long.

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The offshore market has bottomed out after going through the longest downturn ever for the sector. But a de facto recovery for the hard-pressed supply vessels is still at a very early stage, concludes investment bank Pareto Securities in a new report.

The firm notes that the offshore supply vessels (OSV) are currently returning from the "hibernation mode" that has characterized the sector for the past year and a half.

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