The outlook for the offshore support vessel (OSV) business has brightened considerably since the dark days of the previous decade and is possibly in a “Goldilocks…
The outlook for the offshore support vessel (OSV) business has brightened considerably since the dark days of the previous decade and is possibly in a “Goldilocks moment” — not too weak and not too strong. While strengthening, it has not yet reached the point of significant new vessel ordering. Paradoxically, across maritime markets, observers are often concerned when exuberance gets out of hand. For now, newbuild activity remains limited.
On the Q3 2025 earnings call for listed company Tidewater (NYSE: TDW), which operates more than 200 vessels across worldwide markets — including 34 in the Americas, with charterers such as Exxon Mobil, Total and Pemex — Piers Dayer Middleton, executive vice president and chief operating officer, told listeners:
“OSV supply growth is expected to remain very moderate, supporting market dynamics overall, with the OSV order book of 134 units according to Clarksons Research still representing roughly 3% of the current fleet, reflecting limited capacity for supply growth. Newbuilding activity in the OSV space continues to be subdued, and we see no signs of significant new supply entering the market in the foreseeable future.”
Capital Returns — Carefully
At the late 2025 Marine Money event in New Orleans, on a panel
Content Original Link:
" target="_blank">
