OSV shipowners need capital discipline to remain in a 'good spot'

Mr Kneen said the key challenge for vessel owners is to “stay capital disciplined” and not order too many vessels on speculation to avoid changing the demand-supply balance.

This will ensure owners have a decent return on investments, can provide training to their seafarers and their vessels remain attractive to charterers.

“We need to ensure we do not get ahead of ourselves from a capital capacity standpoint, that we do not add too many boats," he said.

“We are constantly focused on making sure we are balanced, and what we are adding to the fleet matches what we are taking away on a global basis.”

He explained how the industry was in a “good spot” and what it needs to achieve to remain there in the future.

Annual Offshore Support Journal Conference, Awards & Exhibition was held in London on 4-5 February 2025.

Riviera’s Offshore Support Journal Conference, Asia 2025, the largest forum for vessel owners, designers, shipbuilders, charterers and suppliers within the OSV sector in Asia, returns to Singapore on 9-10 September 2025. Use this link to register your interest in attending this premier event.