Chart has short term potential, page-363

Hi Downsyde

I was indeed referring too the supply and demand dynamics of Offshore Support Vessels, and not the supply and demand dynamics of the oil price, and I do think they are different things, and should not be confused.

I think post posters would accept that there is a lag between the oil price and the work available for the OSV's.

However as a point of difference between OSVs, and that is spare capacity.

In the oil world there is there is little spare capacity. But in the OSV world there is massive underutilisation of assets and therefore massive spare capacity. There are literally 100's of OSVs cold stacked in Asia and possibly around 1000 boats cold stacked worldwide. As soon as any operator can get breakeven on any boat they will come out of cold stack and be fixed up again for use.

We don't have updated data from MRM for any period of time. Overseas industry stats show that both the number of boats stacked is higher and the day rates are lower.

The next update from MRM can't be good and while we can see that the bottom is in for the oil market it's a brave soul that would conclude the same for the OSV market.

All IMO and DYOR.