AlixPartners has warned that improving offshore support vessel (OSV) markets will not be enough to save some operators from going to the wall.
Analysts led by Zachary Chandis called for drastic action on debt, vessel oversupply and costs to make the sector attractive again for investors.
The consultancy said the industry has emerged from its 2017 trough thanks to a slight shrinking of the fleet, an increase in activity and owner refinancings.
