Offshore support vessel owners are rejuvenated by this year’s market rebound and rising demand for their assets and services.
They have seen higher utilisation and requirements for their vessels and rising charter rates. There is enough demand to reactivate vessels from layup and relocate assets to more lucrative markets. But with rising demand comes more challenges for owners to overcome.
Seacor Marine Holdings president and chief executive John Gellert says vessel owners are challenged by the rebound in demand due to the years owners have faced shrinking markets.
In a video interview at Riviera Maritime Media’s Annual Offshore Support Journal Conference 2022, Mr Gellert explains why strong market fundamentals mean owners need to bring vessels out of layout and find seafarers to crew them rapidly.
But it is difficult to find new resources, especially trained personnel and crews in a strong, but scarce market.
Another challenge facing owners is the increasing pressure on them to reduce emissions across their fleets. This has led to investments in technologies on board existing vessels to reduce fuel consumption.
In the interview, Mr Gellert also talks about investments in hybrid propulsion and upgrading vessels and when it will be time for strategic asset replacements.
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