Page 18: of Offshore Engineer Magazine (Nov/Dec 2022)

17 19

Market Forecast 2023 ©bomboman/AdobeStock

THE OSV OUTLOOK

FOR 2023 –

It’s beginning to look a lot like Christmas

Afer a rough few years for the ofshore support vessel market, Fearnley Ofshore Supply’s Jesper Skjong says the OSV market is now closer to a global recovery than at any point since the market turned sour.

By Jesper Skjong, Market Analyst at Shipbrokerage Fearnley Offshore Supply he market for offshore support vessels has been peak, in 2017, the oversupply of anchor handling tug sup- through a rather rough few years since offshore ex- ply- and platform supply vessels was in excess of 30% more ploration and production activity took a nose-dive units than the market required at its all-time high demand! in 2015 following the oil price crash the year before. And while those asset classes were starting to see some

T

The newbuild order boom that came with the ever- signi?cant momentum build in 2019 and Q1 2020, we saw greener pastures imagined in the industry ensured that not the impact of COVID-19 bring demand right back to pre- only was the supply- and demand balance off by an in- vious trough levels – almost overnight as restrictions that surmountable degree in the years that followed, but at its reduced energy demand were rolled out across the globe.

18 OFFSHORE ENGINEER OEDIGITAL.COM