The downturn in the offshore market has pushed down supply vessel prices so far that ships from the 1990s are sold for little more than their scrap value, less than half a million USD, according to an evaluation performed by Vessels Value on behalf of ShippingWatch.

"Today, AHTS vessels [anchor handling tug supply, -ed.] and PSV's [platform supply vessels, -ed.] are worth no more than their scrap value," says Robert Day, head of offshore at Vessels Value, to ShippingWatch.