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Siem Offshore expects more vessels to be laid up

Day rates remain too low in the offshore segment despite an improvement in activity levels, says Siem Offshore. The strained supply company expects to see an increase in the number of lay ups over the winter. Siem has so far lost a significant million-dollar figure in 2020.

Photo: PR / Siem Offshore

The coming months will likely see an even greater increase in idle vessels in the already strained supply market, projects offshore shipping company Siem Offshore.

Specifically, Siem Offshore expects the winter months to result in less work for the vessels, shows the company's interim report for the third quarter.

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