Broker gives upbeat assessment of OSV marketNews // September 30, 2013
Fearnley Offshore Supply has given an upbeat assessment of the market in its latest report on OSVs.
"Despite the regular flow of newbuildings (predominantly PSVs), the market for OSVs has not showed any sign of weakening," it said. "In general, the spot and long term markets throughout the summer have been active
and firm - particularly for large quality PSVs."
"The concern some players had this summer for a weakening autumn and winter market seem to be unfounded," said the broker, noting that all 15 Statoil mid-term PSV charters which delivered April/May 2013 have been kept on by Statoil, which has declared a series of options.
"Recently, very few OSV newbuildings have been ordered in Europe, except those with long term charters attached. The speed and flow of newbuilding deliveries, is (finally) slowing off. Charterers, who have gotten used to have access to latest fashion tonnage with all modern feature 24/7 , may in the future be forced to use vessels of a lesser degree of sophistication," it said.