Massive debt and oversupply ‘will cripple OSV owners for years’

Offshore market improvements in 2018 are not nearly enough to counteract two key ­issues that will hamstring most shipowners for years to come, says Fearnley Offshore Supply managing director Tor Allen Widing.

“Owners have way too much debt and there is just too much steel on the water. As we see it, those are the two biggest problems for the sector,” Widing tells TradeWinds during an interview at his Oslo office.