OSV firms buoyed by Middle East business
However, they all warn of present difficulties in the offshore supply vessel sector as well as concerns over the outlook for global economic growth and political uncertainties in the Middle East. Nevertheless, offshore activities in the Middle East are seen as promising, especially for gas fields, with Vallianz looking for new business in markets such as Egypt, Abu Dhabi and Kuwait
The oversupply situation within the OSV sector continues to pose challenges for service providers as charter rates remain depressed amid competitive conditions
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