DOF: Several OSVs Might Go in Layup

Norwegian offshore vessel operator DOF has warned that several of its vessels might be laid up after the end of their current contracts, citing lack of new work opportunities amid the oil price rout and COVID-19 pandemic effects. On a positive note, Equinor has chartered one of its vessels on a long term deal.

“There has been a sharp decline in the tender activities, with few new contract opportunities and less projects to bid for. Due to the sharp decline in the oil price, the oil companies have reduced their exploration activity substantially and some have also started to reduce existing production.

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