Page 25: of Marine News Magazine (November 2025)

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Feature

OSVs (for 3,200 tdw units) in 2020’s slow- a seminar on oil markets held in Sep- markets. Consumption has underper- down, rallied up to around $25,000 tember, 2025, reported that: “2025 formed, prompting repeated down- in mid 2024 (rivalling highs from the has been a turbulent year for global oil ward revisions in demand forecasts.

Spring, 2008 boom) before coming off later that year into 2025. Their larger 4,000 tdw brethren rode similar waves from Pandemic-induced lows of slightly above $10,000/day up to $40,000/day in mid 2024 (also in line with Q2 2008’s heady levels) before pulling back.

In the recent research report on

TDW, Evercore ISI described general market prospects, analyst Jason Ban- del and his colleagues opined that: “No meaningful newbuild cycle is expected given vessel economics that still do not support reinvestment, and the global OSV ? eet continues to age, with a large portion of supply nearing retirement and limited capital avail- able to fund replacement. This sup- ply constraint is gradually intersecting with a rising tide of global demand, particularly from FPSO installations, subsea construction activity, and lon- ger-cycle drilling projects.” Analysts at

Westwood, summarizing views from

Guice Offshore www.marinelink.com MN 25|