Deep Sea Supply Optimistic for OSV Market in 2013

February 27, 2013

Deep Sea Supply (DESS), a Cyprus-headquartered owner and operator of a fleet of offshore support vessels, in its quarterly report today said it remained cautiously optimistic for the OSV market in 2013.

The company which recently entered the joint venture transaction with BTG Pactual in Brazil which will make it the third largest OSV owner in Brazil, said it expects to benefit from the fact that many new rigs will be delivered this year, which is positive and moving the supply/demand balance in favor of OSV owners.

“Increased activity, both in established and new markets, continue to drive demand for large and modern OSVs, and Deep Sea Supply’s fleet of cost efficient vessels is well positioned to take part of this development,” said the company in a press release.

DESS, which in the past year managed to secure 11 long term charter deals, added that the company sees attractive opportunities in areas like West Africa, and will actively seek to increase its fleet and further strengthen its position by focusing more on such areas.

The shipowner reported consolidated revenues of $38.9million in 4Q 2012 compared to $32.1 million in 4Q 2011.

[mappress]
Offshore Energy Today Staff , February 27, 2013