Offshore

More than 600 OSVs laid up

Photo of Sam Chambers Sam ChambersMarch 25, 2016
2 2 Less than a minute

The latest offshore report from Clarksons Research shows that in the worst downturn since the mid-1980s, more than 600 OSVs are now laid up around the world.

Clarksons said PSVs in particular were suffering the most stress with rates in the North Sea this week down to $4,600 a day.

Helping shore up the severely out of kilter supply/demand equilibrium, Clarksons noted that newbuilding orders slid 68% last year to 204 vessels – 80% below the 2007 peak.

Clarksons predicted upcoming distresses S&P activity, as well as restructuring and mergers and acquisitions.

Photo of Sam Chambers Sam ChambersMarch 25, 2016
2 2 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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