Restructuring of the OSV business is far from finished


#81

They have five AHTS dating from the late 70’s early 80’s, Ex Superpesa vessels from my time in Macae.

I’d hazard a guess these are replacements as go anywhere do anything utility ships, something which European Navy’s are looking at as they are at an all time knock down price.


#82

Fearnleys see the end of the downturn:


#83

http://www.osjonline.com/news/view,platt-retires-and-rigdon-steps-in-as-interim-ceo-at-tidewater_49558.htm


#84

If he had been named CEO instead of Taylor way back when they would’ve been better off.


#85

Restructuring by website is a new one in the business, I believe:

For those who are not familiar with the OSV scene in Singapore and Asia-Pacific; Michal Kum is one of the “grand old men” that built up several companies from scratch and in the old traditional Chinese way, where a handshake was as good as a contract and debt was a sin.

Here is a link to the website set up by Halom:
https://www.changeformma.com/


#86

Looks like a few less in the parking lot. I’m guessing they are riding the hook in Trinidad now.


#87

Last I saw the parking lot in Trinidad it was a little more crowded. Also the de,mob had alrighty started for the older ships. It was cool at Christmas it looked like a blinking Christmas tree.


#88

So it starts again…


#89

You can’t keep a good ol’ Fishing Skipper down. He just shake it off and raise again.


#90

Here is a list of Norwegian owned and operated Offshore vessels presently in layup:
https://sysla.no/maritim/opplagsregisteret/
Unfortunately Google translate has a problem with the Norwegian word for Layup (Opplag), but with a bit of good will you should be able to figure it out.

PS> There are bound to be more vessels in the North Sea going into layup for the winter:


#91

Some light at the end of the tunnel?:


It proves what I have said for a decade; when the market is down older vessels will find work over newer vessels of low technical standard, but when markets recover the high spec vessels will be first to gain.


#92

EMAS/EZRA is still struggling, even under Chapt. 11:

PS> Labuan is not only know as a layup place, it is also a free port. financial center and the home of the Malaysian International Ship Registry:


PPS> I would not be surprised if the actual Owners of those three Labuan companies are three Norwegian KS companies.


#93

Solstad Farstad has sold another “over-aged” and “under-spec” AHTS, the Far Grip that has been in layup off Batam for over a year. (Buyer and price not disclosed)

Looking at the specs this would be the pride of the fleet for many companies around the world:
https://www.solstadfarstad.com/fleet/ahts-vessels//far-grip


#94

1000 boats to be scrapped???
http://www.osjonline.com/news/view,costs-could-see-1000-ageing-osvs-leave-the-market_50273.htm


#95

Sverre Andreas (Andy) Farstad is resigning from the Board at Solstad Farstad ASA:


Not only that, he also demand that the family name is removed from the company name:

But the Chairman of the Board is not in agreement with what he claims was agreed upon.

PS> Not only that, but the promise that the names, colours and brand of each component in the new company would be kept has also been broken:


Soon there will be no more “Big F’s” to be seen around the world.


#96

Island Offshore Subsea AS is entering into strategic collaboration with TechnipFMC:
https://www.businesswire.com/news/home/20180201006315/en/TechnipFMC-Island-Offshore-Enter-Strategic-Collaboration-Agreement

I don’t know how ECO stands in this?


#97

Another that goes against the grain:


#98

Things are a’changing. NAO gets all their PSVs back to work:


#99

Some sees opportunities in the OSV market.
Standard purchase two PSVs in fire sale:


#100

Will the Bourbon house of cards finally collapse?