ShippingWatch

Major supply ship operator points to upwards of 700 demolition candidates

Siem Offshore and US-based Tidewater both see a big need for thinning out the global fleet of supply ships. As many as 700 ships could end up being scrapped, Tidewater projects.

Photo: PR/Tidewater

A significant portion of the global fleet of supply ships must be scrapped before the market can move in the right direction for the strained offshore ship operators.

This was the assessment put forth by two major players in the market, Norway's Siem Offshore and US-based Tidewater, in presentations at a conference hosted by Pareto Securities this week.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Norden books "fantastic" second-quarter result

Product tanker and dry bulk company Norden bags a result for the second quarter that the carrier itself describes as ”fantastic.” CEO Jan Rindbo says this is due to the ”exceptional” product tanker rates, according to a financial statement.

Further reading

Related articles

Latest news

See all jobs