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Challenging times ahead for OSV segment

Tuesday, April 21, 2015 - 05:50
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A focus on reliable, good quality assets, training and manpower development and competence assurance are all critical factors in ensuring the steady growth and continual improvement of the OSV segment in the future.

AS a function of the price of oil, naturally the offshore supply vessel (OSV) market has taken a hit as well. "The OSV market is going through a very challenging period with both vessel utilisation and daily charter rates declining. Operators are under pressure from clients to cut costs while