Its a mistake IMO to mix up the oil price and the OSV market.
The OSV market is likely currently at 3 times oversupply. Any pick-up in the OSV will lag the oil price and even then you are dealing with a market for OSV's maybe 3* oversupplied. That means 2 out of the 3 OSV boats in the worldwide fleet is stacked in some way. Operators will look for economic pull out from stack if there is more work, and that then means any increase in work will just be met by more boats coming from stack.
We are many many years away from increases in OSV day rates.
MRM Price at posting:
35.0¢ Sentiment: Sell Disclosure: Held
