Offshore Fleet Currently Laid Up

Here is a snapshot showing the percentage of the offshore fleet currently laid up. PSVs – or Petroleum Supply Vessels – “ top the list with 36% of their fleet currently laid up. The Vessels Value offshore database includes Offshore Support Vessels (PSV, AHTS, AHT, FSV, Ocean Going Tugs and ERRVs), Offshore Construction Vessels (Pipe layer, Cable Layer, Well Intervention, Dive Support Vessels, MPSV, Floatel, Accommodation Ship, Crane, Lift Boats, SOV, and Utility Vessels) and Mobile Offshore Drilling Units (Drillship, Semi-submersible, Jack Ups). “This lay-up statistic spells danger for the future of the offshore market. Results can vary from market to market and depend on fleet structure by age, but rates will likely remain depressed for an extended period of time due to vessel reactivation. As rates recover, more vessels will be reactivated and will force rates back down due to oversupply. Other factors that will put further pressure on the market going forward include the bloated orderbook, and the fact that drillers have been able to increase operational efficiency during these leaner times. This results in vessel demand and vessel supply going in opposite directions.”

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