Page 48: of Offshore Engineer Magazine (Mar/Apr 2026)

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VESSELS OSVs: A MEASURED REBOUND

Image courtesy HOS

A MEASURED

RECOVERY FOR THE

OSV MARKET

By Barry Parker he outlook for the offshore support vessel (OSV) Americas, with charterers such as Exxon Mobil, Total and business has brightened considerably since the dark Pemex — Piers Dayer Middleton, executive vice president days of the previous decade and is possibly in a and chief operating offcer, told listeners: “Goldilocks moment” — not too weak and not too “OSV supply growth is expected to remain very moder-

T strong. While strengthening, it has not yet reached the point ate, supporting market dynamics overall, with the OSV of signifcant new vessel ordering. Paradoxically, across mari- order book of 134 units according to Clarksons Research time markets, observers are often concerned when exuberance still representing roughly 3% of the current feet, refecting gets out of hand. For now, newbuild activity remains limited. limited capacity for supply growth. Newbuilding activity

On the Q3 2025 earnings call for listed company Tide- in the OSV space continues to be subdued, and we see no water (NYSE: TDW), which operates more than 200 signs of signifcant new supply entering the market in the vessels across worldwide markets — including 34 in the foreseeable future.” 48 OFFSHORE ENGINEER OEDIGITAL.COM