Why Don’t OSVs Get Scrapped?

• There is a consensus that an OSV market recovery will only be driven a supply side rationalization.
• Nearly 400 AHT(s) and around 300 PSVs will leave the market between 2021 and 2025. Numbers are underpinned by a changing end-user market that will, in our view, increasingly render older vessels uncompetitive for offshore work

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