Ship&Offshore | Ausgabe 06/2017
OSV companies running out of options, according to study
Analysis As oil continues to sell at around USD 50 per barrel, 2017 could be one of the toughest years in decades for offshore supply vessel (OSV) operators, according to a study of 44 companies in the industry by the US consulting company AlixPartners. The firm’s analysis highlights these companies’ rising debt burdens, making it increasingly hard for many of them to maintain solvency. The industry faces grave financial pressure, which is clear from recent bankruptcy filings and distressed mergers.
Exploration and production (E&P) companies have drastically reduced their rig counts, causing demand for offshore supply vessel (OSV) services to plunge. Excess rig capacity has hit platform supply vessels (PSVs) and anchor-handling tug supply (AHTS) vessels the hardest. For the next few years, OSVs will have to confront the new reality: lower demand, shorter charter contracts, and reduced day rates.