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.
by DANIEL LOGAN
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.
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