RigData Insights

Maersk Supply Service Makes Offshore Waves

  • Monday, August 29, 2016
  • Posted By Meagan Wildfong

offshore82916 Source: RigData Gulf of Mexico Activity Report 8/22/16

 

Maersk Supply Service is divesting up to 20 vessels over the 18 months and reducing its crew pool by 400 offshore positions. The redundancy process will cover all nationalities and is expected to be finalized by the end of September 2016. The divestment plan is a response to vessels in lay-up, limited trading opportunities and the global over-supply of offshore supply vessels in the industry.

 

The first ten vessels are expected to exit the fleet within 2016. “One of Maersk Supply Service’s prime objectives is to attempt to restore the supply demand balance in the offshore supply market. This is why the vast majority of the divested vessels will be recycled or modified by their new owners to compete outside their present segments,” said Maersk Supply Service CEO Jorn Madsen. “We are facing unprecedented market conditions, and regrettably we have to further adjust our crew pool. It is an unfortunate, but necessary step to safeguard the future of our company,” continued Madsen.‚Äč

 

For more offshore information check out the weekly RigData Gulf of Mexico Activity Report. For more information contact 800-627-9785.

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