Offshore Support Journal Conference, Asia 2022

Average day rates for OSVs are up 20% from the start of the year, while floater commitments in 2022 have reached levels not seen in six years. All good news for members of the OSV industry. After many years of keeping assets in layup, consolidations and re-financing the sector is finally entering a brighter period.

As a result of this market upturn and a lot of hard work by our team the 2022 conference that took place during October in Singapore had 220 attendees and a buzz that’s been missing for many years! It’s a significant turnaround for the sector and testament to its resilience that it’s ready to thrive once again.

Together with the rest of the sector we look forward to high OSV utilisation, stronger earnings and fleet renewal being a hallmark of 2023 - and beyond.