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OSV market all set for consolidation, say owners
Published Wed, Mar 2, 2016 · 09:50 PM
Oslo
A GLUT of offshore supply vessels (OSVs) and falling demand from oil firms will trigger a restructuring of the still-fragmented industry, two of the largest owners of the specialty ships told Reuters on Tuesday.
With crude prices down more than 70 per cent since mid-2014, energy firms have sharply cut their exploration spending, leaving a rising number of vessels to be mothballed.
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