TThe shipping market for OSV (offshore supporting ship), is expected to remain tight, move forward. In its latest weekly report, Shipbroker Intermodal said that “the rebounding OSV market enjoyed a strong start in 2024 Hitting Record Highs, before Easing off in the Latter Half of the year, with expectations Supply-side constraints, including ageing fleet, limited shipyard capacity, restricted financing and a shortage in newcoming vessels, are expected to maintain the capacity in the OSV market tight. In addition, assistance seems impossible in the near future because the majority of new development orders placed at the end of 2023 and throughout 2024 were not anticipated to enter commercial operations until 2026 or 2027, and several projects that immediately occur at the oil & offshore oil level and offshore winds, will encourage demand for years to follow and maintain offshore level utilization and offshore levels, “.
Source: Intermodal
According to intermodal offshore brokers, Mr. Goerge Vitsos, “The North Sea Market experienced a contrasting trend last year. Although the AHTS fleet still generates large incomes, taking advantage of a strong market since last summer, the PSV market is weaker than expected during the hot months this year, with a day-to-day level followed every month, causing many frustrations to PSV investors, which previously rely on the booming market in the region. Some rig departures from the area, either to delete or move, leave PSV with less opportunities to be involved. To support that, the latest report also shows that the number of rigs in the North Sea has declined more than 50% in the last 10 years “.
He added that “West Africa, currently where OSV ship owners enjoy great employees, because this is an area where medium -sized AHTS can reach US $ 21K PD on place and US $ 17K PD on a long -term charter with a maximum duration of up to 3 years. But this is not the best part. Conflicts in WAF do not have an age limit for OSV-which means that even AHT is a medium-sized 20-year-old that is well maintained, can generate revenues more than double its current value at a 3-year contract “.
Meanwhile, “Persian Bay in general is a healthy market for OSV ships – but since last month, it has begun to experience cooling and although there are still some benefits that must be made, margin is far more stringent than the West African region, because the cost of crew and higher maintenance, to meet the requirements that require majors. Besides PG, Mar-Ket Indian currently provides good opportunities, because Ongc is still on the market for OSV that can easily move from the Persian Gulf and produce fair benefits, “Vitsos said.
Source: Intermodal
“Finally, even though there is a good S&P activity in the Far East, TC’s request has been tapered from the last months and is currently sitting at the lowest level, like a few months ago, the AHTS 80TBP Middle School will get approximately. US $ 9KPD-Rental which has now dropped to around US $ 6.5-6.8K PD. The main reason is that the number of projects that require these ships has been caused and while the Chinese market is closed with a few opportunities for entry, most projects emerged from Indonesia or Malaysia. Growing appetite has also been observed from various owners, especially from Singapore, who made last year’s sales from their oldest assets, to get adequate funds to invest in the underwater segment “, the intermodal analyst concluded.
Nikos Roussanoglou, Hellenic Shipping News worldwide
