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Tidewater: the future of OSVs to 2030
Offshore support vessel owners are looking forward to a decade of high activity, strong utilisation and improving rates, while energy companies need to co-operate to ensure they have sufficient capacity for future projects
Tidewater Offshore Operations managing director for Asia Pacific, James Fortnum, explains the benefits and challenges for offshore support vessel (OSV) owners over the rest of this decade.
Demand and day rates will increase and vessel supply will shrink, challenging energy companies to source the vessels they need to support future oil and gas developments and offshore drilling.
OSV owners can provide the solutions to their requirements, but finding finance for newbuildings is difficult and demand may need to be met by the existing fleet.
Owners will be expected to enhance their fleets to reduce costs and improve efficiency.
Mr Fortnum says now is the time for owners and energy companies to form strategic partnerships to guarantee supply and to modernise vessels to reduce emissions and improve safety.
He was speaking on the sidelines of Riviera Maritime Media’s Offshore Support Journal Conference, Asia, in Singapore during September 2023.
Riviera Maritime Media’s Offshore Support Journal Conference, Middle East will be held 6-7 December 2023 in Dubai, UAE. Use this link for further information and to register your interest
Riviera Maritime Media will host the Offshore Support Journal, Subsea Conference in London, UK on 6 February 2024, a day before the Annual Offshore Support Journal Conference, Exhibition & Awards 2024. Book your place at this conference using this link
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