US-listed Hornbeck Offshore Services (HOS) believes the savaged market for offshore support vessels (OSVs) has still not hit the bottom, despite the already severe depths of the downturn and contrary to what others in the sector claim.
Out of Hornbeck’s roughly 70 multipurpose support vessels (MPSVs) and OSVs, an average of 42 have been stacked in 2016 — and this is expected to rise to 48 by the end of this year.
The
