Page 32: of Marine News Magazine (March 2026)

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Feature

OSVs

HOS

A MEASURED RECOVERY

FOR THE OSV MARKET

By Barry Parker he outlook for the offshore support vessel vessels across worldwide markets — including 34 in the (OSV) business has brightened consider- Americas, with charterers such as Exxon Mobil, Total and ably since the dark days of the previous de- Pemex — Piers Dayer Middleton, executive vice presi- cade and is possibly in a “Goldilocks mo- dent and chief operating of? cer, told listeners: ment” — not too weak and not too strong. “OSV supply growth is expected to remain very mod-

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While strengthening, it has not yet reached the point erate, supporting market dynamics overall, with the OSV of signi? cant new vessel ordering. Paradoxically, across order book of 134 units according to Clarksons Research maritime markets, observers are often concerned when still representing roughly 3% of the current ? eet, re? ect- exuberance gets out of hand. For now, newbuild activity ing limited capacity for supply growth. Newbuilding ac- remains limited. tivity in the OSV space continues to be subdued, and we

On the Q3 2025 earnings call for listed company Tide- see no signs of signi? cant new supply entering the market water (NYSE: TDW), which operates more than 200 in the foreseeable future.” 32 | MN March 2026