Restructuring of the OSV business is far from finished


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.


Fearnleys see the end of the downturn:



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


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:


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


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.


So it starts again…


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


Here is a list of Norwegian owned and operated Offshore vessels presently in layup:
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:


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.


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.


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:


1000 boats to be scrapped???,costs-could-see-1000-ageing-osvs-leave-the-market_50273.htm


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.


Island Offshore Subsea AS is entering into strategic collaboration with TechnipFMC:

I don’t know how ECO stands in this?


Another that goes against the grain:


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


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


Will the Bourbon house of cards finally collapse?