Only slightly more than half of OSVs are currently employed

Although owners of offshore support vessels expect increasing demand, numerous challenges loom. Just over half of the global fleet is in operation the first quarter of 2021, according to a new analysis.

Photo: PR / Siem Offshore

The crisis in the oil and gas industry, brought about by a price war, production limitations and the Covid-19 pandemic, has had a significant impact on the market for offshore support vessels (OSVs), a new analysis shows.

Even though the OSV market expects rising demand, major challenges still loom large for OSV owners. Just over half of the fleet saw utilization in the first quarter of 2021, according to the analysis.

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