US-based offshore support vessel owners dominate the global rankings, with three of the top five most valuable OSV fleets, according to a UK ship valuation firm
Privately held Edison Chouest Offshore (ECO) has the most valuable OSV fleet at US$1.17Bn, according to VesselsValue. Currently, the Louisiana-based owner and operator has 211 vessels, which are mostly built at its own shipbuilding facilities on the US Gulf coast. ECO also owns offshore construction vessels, icebreakers, research vessels and specialty vessels.
‘OSV’ as defined by VesselsValue covers platform supply vessels, anchor handling tug supply vessels, anchor handling tugs, crew boats, crew transfer boats, fast supply boats, oceangoing tugs and standby/emergency rescue and response vessels.
NYSE-listed Tidewater is the second-largest OSV owner by value, with a fleet of 187 vessels valued at US$958M. In an announcement in November, the American OSV owner reported it had disposed of 22 vessels in Q3 for US$10.6M and acquired 11 crew boats for US$5.3M in Q4.
Norway’s Solstad Offshore has a fleet of 96 vessels valued at US$590M – good enough for third place in the global OSV rankings.
France’s Bourbon, with 194 vessels, has a fleet valued at US$508. It recently finalised a restructuring agreement with its creditors.
US-based OSV owner Hornbeck Offshore Services, which recently emerged from bankruptcy, has a fleet of 62 vessels valued at US$452M, the fifth most valuable fleet.
When considering the top five OSV owners by fleet size, ECO maintains its leading position, but Bourbon moves up the rankings to second place, followed by Tidewater, with newcomer COSL joining in fourth place with 103 vessels, and Solstad rounding out the top five.
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