Large PSV market 'in danger due to oversupply'

THE market for large platform supply vessels (PSVs) operating in the deep-sea segment may be running into trouble due to oversupply - a situation that could tamp down utilisation and charter rates in the near to mid-term.

Jacques de Chateauvieux, chairman and chief executive of the European-based maritime group Jaccar Holdings, said large PSVs were the only segment in the offshore market in danger because of a demand-supply disequilibrium.

The other two markets in the offshore sector - those for shallow-water and subsea vessels - are in better balance, he said.