Spending More Time at Sea

Margins are tight for vessels that operate offshore or in coastal waters. Take the global offshore support vessel (OSV) market for example, it looks set to be yet another challenging year which has concerned senior executives preparing for a sixth year of downturn. Many had hoped that 2019 would be the year that marked a turning point in OSV fortunes, but the uptick hasn’t materialized, and there is renewed anxiety about what could potentially be the worst market since the 1980s.

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