DnB Nor Downgrades Credit Ratings of Offshore Support Vessels

DnB Nor Markets recently has issued a credit analysis and rating on 7 offshore support vessels companies. In a very detailed analysis, DnB Nor credit analysts produced a report that focuses on the offshore support vessel market. “The demand for offshore support vessels is in the medium/long-term highly correlated with the oil price, and together with increased supply, we expect a challenging period ahead. This implies lower day-rates, lower utilization, lower market values for the units and potentially liquidity problems for some companies,” the report says. DnB Nor continues, “Although we expect lower day-rates across the vessel types, we do recognize that the direct driver for demand for PSVs and AHTS’, floating production units and drilling rigs, will show an increase in 2009-2011 when most of the drilling and FPS

This is only an excerpt of DnB Nor Downgrades Credit Ratings of Offshore Support Vessels

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.