Maersk Supply intends to cut 20 vessels and 400 offshore jobs, with the main goal of never seeing these ships competing in the oversupplied OSV market again.
The Danish owner, part of giant AP Moller-Maersk, says one option is to sell the ships for conversion in sectors outside offshore but most ships are likely to be scrapped.
Demolition is often referred to as a much-needed component in today’s severe downturn but offshore owners have several disincentives for scrapping OSVs.
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