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>

<< Oct 2019 >>
MTWTFSS
30 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

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

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