Offshore Shipping Online

A publication for the offshore shipping industry published by Clarkson Research

  • Offshore Intelligence Monthly
  • Menu

    Deep Sea Supply planning more newbuilds

    Company News // September 11, 2013

    Deep Sea Supply (DESS) indicated in its quarterly results that it is looking to significantly expand its supply vessel fleet in order to meet growing demand.

    The shipowner confirmed it is in talks with PSV Holding Inc, a company affiliated with Hemen Holding, to acquire up to 10 new PSVs, with any acquisitions to be paid for utilising “cash, senior bank debt, seller’s credit and limited or no use of new equity.”

    According to broker Seabrokers, DESS suggested that increased activity in established and new markets is driving demand for large and modern OSVs, prompting optimism that the delivery of a significant number of newbuild rigs in the coming years will move the supply/demand balance in favour of support vessel owners.

    In the near-term, DESS said it remains “cautiously optimistic for the OSV market in the remainder of 2013 and 2014.”

    More articles from this category

    More news