Page 14: of Maritime Reporter Magazine (April 2019)

Navies of the World

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OSVs: Which way is Up?

By Barry Parker ny analysis of markets for less than a handful of vessels available offshore service vessels on any given day, and this provided own-

A RECOVERY IS COMING, BUT ITS TIMING, (OSV) usually begins with ers with an opportunity to increase their

Aanalogies to rough weather, rates.”

BEYOND ITS FREQUENT CHARACTERIZA- best of times/worst of times or similar. The capacity utilization numbers tell


OSV expert Seabrokers, with a home the story; for large PSVs which it de? nes

RESEARCH ANALYSTS AT CLARKSONS base in Stavanger, Norway, in the Feb- as having deck capacities of greater than ruary edition of its Seabreeze market 900 sq. m. (equivalent to roughly 5,000

TITLED A JANUARY, 2019 REPORT “HOPE report follows this convention with a de- dwt), went from a worrisome 58% in

SPRINGS ETERNAL”. scription of the “feast or famine” condi- January up to a healthy 82% in February. tions in the North Sea. Recent day rate Day rates for these vessels responded in action highlights the localized nature spikes or sustained cyclical upturns. In kind, with the broker estimating a jump of markets for anchor handlers (AHT), Volatility & Uncertainty the March market report, the Norwegian in hires from $6,800/day in January up platform supply vessels (PSVs) and There has been recent upward move- intermediary Seabrokers said “… trad- to $14,400/day in February. similar equipment, while also capturing ments of day rates seen in certain in- ing conditions turned rapidly, with the For perspective, equity analyst James the supply and demand dynamics which ternational OSV sectors, the problem market quickly moving in owners’ favor. West, who covers the sector at New York breed volatility. is determining if they are temporary It became quite common for there to be based investment bank Evercore ISI, re-

OSV THUNDER, owned by Jackson

Offshore, serving ? oater

Deepwater Conquerer.

Source: Jackson Offshore 14 Maritime Reporter & Engineering News • APRIL 2019

MR #4 (10-17).indd 14 4/2/2019 11:28:08 AM

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