A softer rig market in the US Gulf of Mexico (GoM) has translated directly into weaker numbers for US-listed Hornbeck Offshore Services (HOS), as the company predicted — but it says the signs look right for a renewal of demand for offshore support vessels (OSVs) in the GoM.
In a nutshell, the main problem of late in the GoM has been flat demand coupled with rising supply, says Hornbeck.
