Page 24: of Offshore Engineer Magazine (May/Jun 2024)

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MARKETS OFFSHORE SUPPORT VESSELS (OSV) several of which are now well above previous peak lev-

Another OSV Newbuild Boom ...

els. Furthermore, given the large number of planned

Not on the Horizon Just Yet project developments and drilling campaigns in both

Historically, we as an industry have spoiled our own regions, and with next to no new supply added in the party by ordering far too many OSVs which then adds near future, we expect continued upward pressure on insult to injury in the ensuing downcycles. But even in rates overall.

the absence of a demand crash almost ten years ago, the © David Maddock / Adobe Stock 24 OFFSHORE ENGINEER OEDIGITAL.COM