Eidesvik optimistic about subseaCompany News // November 15, 2017
Eidesvik Offshore in Norway says it is 'positive' about the subsea market, but not so posisitve about the seismic segment, in which it is also involved, although it sees some signs of improvement there.
Announcing third quarter 2017 results the company said the spot market for PSVs in the North Sea "experienced a good summer season with reasonable rate levels and utilization.
"We expect the winter season to be tough with fewer rigs in operation and drilling programs coming to an end. Oversupply of PSVs is expected in both the short and medium term, resulting in a difficult market going forward," the company said.
"In the subsea segment we see an increase in the number of vessel requirements for both near-term and mid-term work.
"The wind market continues to take on subsea tonnage for commissioning and service work.
"We remain positive to the subsea market in the long term and to the wind market in both medium- and long-term. The seismic market remains challenging, however, with some signs of increased activity in the node seismic market."