Wednesday, June 17, 2020

Sales of Offshore Support Vessels Continue as Downturn Persists

Four Years of Austerity for Sector
Shipping News Feature

DENMARK – WORLDWIDE – After the demise of tug and salvage specialist Ardent earlier this month it seems the offshore support sector continues to suffer difficult times. This week comes the news that, due to the current market situation and the global over-supply of offshore supply vessels, Maersk Supply Service has decided to divest two of its older assets.

The two vessels, the Maersk Advancer and Maersk Asserter have been sold to an international buyer and will be modified for use in a non-competing industry. The move is a continuation of a policy which began in 2016 when the company set out to reduce its fleet in response to the global over-supply of offshore support vessels.

Any company vessels divested in the period since have all been either recycled or modified by their new owners to compete outside of the offshore supply vessel segment. In total, 26 platform supply and anchor handling tug supply vessels have since left Maersk Supply Service’s fleet. After the recent sale, 41 vessels remain in the fleet. Chief Commercial Officer of Maersk Supply Service Carsten Gram Haagensen, commented:

“As a response to the recent downturn in the oil and gas industry, we have re-evaluated our fleet composition and future fleet deployment. As we expect insufficient commercial opportunities for the Maersk Advancer and Maersk Asserter, we have concluded that a sale of these assets is the most attractive solution. With this, we continue to take active steps to right-sizing the supply side of the market that the OSV industry needs for a sustainable recovery.”

Maersk Supply Service is a subsidiary company of A.P. Møller – Mærsk A/S which employs an international staff of approximately 1100 offshore and 250 onshore people. Headquartered in Lyngby, Denmark, Maersk Supply Service is represented globally with offices in Aberdeen, Accra, Luanda, Manila, Mexico City, Perth, Rio de Janeiro, St. John’s, and Singapore.