Island Offshore lays up two Platform Supply Vessels

Island Offshore has resolved to lay up two PSV vessels, Island Duke and Island Duchess, for an indefinite period.

Island Offshore says that the lay-up of vessels is due to a worsening of market conditions following reduced activity in the oil companies, especially in the North Sea but also in other markets. As of today there is significant oversupply of vessels in the market, the company explains.

“The reduced activity level expected also in 2016 may worsen market conditions further unless ship owners take responsibility to reduce the supply of vessels,” states Håvard Ulstein, Managing Director of Island Offshore Management AS.

According to the company, the resolution will not have any short term implications for the crew as they will be offered alternative employment within the fleet.

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply