Deep Sea Supply slashes costs and hoards its cash

The huge raft of global layups of offshore support vessels (OSVs), with approaching 100 ships tied up at quaysides in Norway alone, may not have yet cured the industry’s ailing day rates — but layups have partly helped Deep Sea Supply to slash its operating expenses beyond analysts’ consensus expectations by nearly 19%.

The continuous rise in Deep Sea Supply’s cash position each quarter and unexpectedly lower operating expenses have earned the Oslo-listed owner some positive, if cautious, feedback from analysts on its third-quarter results.

Deep