Good time to buy OSVs?

Is this a good time to acquire OSVs?
Maersk Supply is selling two AHTS, but for use in other markets:

The North Sea PSV and AHTS market seem to be totally saturated right now with day rates below break-even most of the time.

You might be able to pick up vessels for cheap, but you better have very deep pockets for the money you will lose on operating expenses. Unless you will use them in a non-competing sector like these Maersk Vessels.

It’s interesting where happened to the Boa Jarl and Bison, they are now Norwegian Coast Guard vessels. The grey colour scheme looks great :rofl:

http://shipbucket.com/forums/viewtopic.php?f=12&t=9787

Might be a good time to buy a cruise ship or drillship also right? Buying a distressed asset that has no immediate market value but requires constant capital outlay just to maintain the shrinking value makes absolutely no sense unless one has a contract in hand for such a vessel prior to the purchase.

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That’s right. But where do you need that many HP, other than for towing and A/H?
Yes I know; you can run on less than full power and the Maersk vessels has 4 x MAK 9M32C engines (Total 23,500 Bhp)

(The Boa Jarl & Bison has 2 x 8000 kW engines)

Geeze…This ain’t nothing new. I started in the business in '70 during a down turn. There were several down turns and up tics over the years. Overbuilding during the late '70s saw the supply boats taking over the carribe container run. The down turn in the mid '80s when I left the oilfield for SIU tug jobs, many osvs left for the fishing industry. All of the OSVs I worked on with Wichmann engines had a difficult time procuring spare parts. They wound up as crab boats in Chile.

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the BIG difference I see today with the depressed prices and industry slow down is a result of alternate sources for oils traditional customers, so not just just a supply and demand issue nor global recession although they all contribute.
That has never happened before.
The shipping industry looking at moving away from hfo, it all adds up
Crystal balling you could easily see today a city saying thats it, no IC engines allowed in x mile radius.
Share price of the majors is now based on 5 year reserves not 25 like it was forever.

There are hundreds of full or part completed PSV’s alongside in china since the drop 5 years ago…

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They didn’t learn not to try getting ANYTHING from Norway on weekends, during Summer holiday, X-mas or Easter?
That is when ALL Norwegians are in their “hytte”, either in the mountains, or on the coast, or out in their boats. (Those who are not in “Syden”)

OK, it HAS got better these days, with all the foreign workers available to serve during such times.

PS> Just don’t try to order anything in Norwegian!!! (English is fine)