Norway's Siem Offshore is forecasting continued weakness in offshore support vessel (OSV) markets as the sector clocks up eight years of depressed rates.
The Kristian Siem-chaired shipowner sees demand picking up somewhat worldwide but said it has been unable to secure long-term contracts for anchor-handling tug supply (AHTS) and construction vessels.
Siem Offshore's net loss in the first quarter was cut to $9.6m,
