ShippingWatch

Hundreds of ships stand in the way of upturn in OSV market

After years of crisis in the offshore supply vessel market, operators now widely project that a recovery is coming in 2022. But hundreds of vessels will have to be scrapped in order for the market to see a long-awaited and genuine recovery, analyst say.

Photo: Viking Supply Ships

Several hundred offshore vessels stand in the way of a much needed upturn on the market for offshore supply vessels, as there are still too many out-of-work vessels compared to demand from oil and gas companies.

As a result, the ship operators will have to take firm action and accelerate the scrapping efforts for older and stacked vessels if they want to see meaningful returns in their financials.

Read the whole article

Get 14 days free access.
No credit card required.

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

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Long Beach logjam of container vessels grows to 80

Bottlenecks at major US container ports in continue to grow, with the ports of Long Beach and Los Angeles being the worst hit at the moment. Here, 80 vessels are waiting to berth, according to new figures form Vessels Value.

Further reading

Related articles

Trial banner

Latest news

See all jobs